Well, maybe I was wrong. Instead of True Knowledge bagging a large amount of VC funding as I thought, it’s gone back to its existing investors Octopus Ventures and some angels to secure $4m further funding. However, it may be it just that it couldn’t agree terms with the VCs that were courting it. (I’ll update the post when I have done more digging). It brings the total raised by True Knowledge in the last 12 months to $5.4m (£2.7m). This will be spent on expanding the management team and product development.
Although not quite yet the Powerset or Cuil of the UK, True Knowledge is pioneering a radical new approach to search, best described as answering questions asked on any topic in plain English.