Exclusive - StatSheet, which specializes in realtime content automation, is expanding beyond sports to apply its technology to other data-intensive verticals where the cost of creating high-quality content remains high.
The company has decided that a new name will better reflect its broadened focus, and will henceforth be known as Automated Insights. Furthermore, the startup has secured $4 million in new funding to spur growth.
The financing round was led by Court Square Ventures and OCA Ventures, with participation from IDEA Fund Partners and other existing investors. They raised $1.3m earlier.
For the record, Automated Insights will be entering new markets (think finance, weather, real estate etc.) but will maintain the StatSheet brand for its sports offerings whilst doing so.
Automated Insights’ technology automatically turns raw data into narrative content and visualizations. The content that is output is written entirely by software but can subsequently be formatted as headlines, summaries, and long-form articles, and then distributed via the Web, mobile applications and through social media.
They recently applied its technology to power Major League Baseball (MLB) coverage. The company is now looking to debut team-centric sites and mobile apps for all 32 NFL and 244 NCAA Division I College Football teams (see an example).
Since November, the company says, its software has generated over 100,000 articles (covering both NCAA Basketball and MLB).
Worth noting: Automated Insights has gotten this far with only 12 employees, in less than a year, because most of what they do is completely automated.