funding, growth

deepset, the company behind the popular Haystack open source framework for building NLP services, has announced a $14 million Series A investment round led by GV. The company also introduced deepset Cloud, an enterprise SaaS platform for building language aware software. Providing developers with the tools needed to rapidly build production-ready NLP applications, deepset has attracted Global 500 enterprise customers like Airbus and has thousands of organizations using its free tooling to-date.

Harpoon Ventures, System.One, Lunar Ventures and Acequia Capital also participated in the Series A round, alongside founders of leading ML and Open Source companies, including Snorkel AI, Cockroach Labs, Cloudera, Deepmind and Neo4j.

Announced today, deepset Cloud tailors and manages Haystack in production. Starting with experimentation, to labeling and monitoring the NLP-services through the development lifecycle, deepset Cloud makes the move from prototyping to production seamless. It is built to support large-scale business applications with many end-users, and supports collaboration within developer teams. It is therefore a platform to serve the full lifecycle, tailored to those use cases that are powered by NLP technology.

deepset’s flagship product, Haystack, is an open source NLP framework that leverages transformer models. It enables developers to build a wide range of applications, including production-ready question answering (QA), semantic document search, and summarization.

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