Munich – 04.03.2015
Cognitive Computing: Understanding what Big Data stores ExB extends the scope of PTPT to the enterprise
- Additional round of funding from renowned investor group expands ExB’s capital base to over €10 million
- Business development focuses on data analysis in mobile and enterprise sectors
Turning Big Data into productive results means not only collecting, but also to genuinely understanding data. ExB (www.exb.de) uses the cognitive computing technology in its PTPT platform to solve the problems that plague IT and software companies all over the world. By intelligently connecting data, companies can increase their productivity and effectiveness significantly. To help companies make the most of their Big Data, ExB has expanded the scope of its PTPT platform from mobile applications to the enterprise sector. PTPT is a core component of many application scenarios, ranging from automatic text generation and natural language processing to fraud detection for insurance providers. ExB’s innovative strength is confirmed by receiving high-profile funding from a renowned group of investors, increasing ExB’s capital base to over €10 million in order to support its expansion into the enterprise sector. Investors include former Telefonica Germany CEO René Schuster, Franz Burda and the KfW Group.
Whenever machines need to understand information the way humans do, PTPT can help
PTPT is an industry-recognized application platform for natural language and information processing based on the principles of cognitive computing. It provides a comprehensive framework for data management and knowledge synthesis and an unprecedented depth of analysis for Big Data. Conventional technologies can only evaluate structured data – data that fits into an already known model. In contrast, PTPT applications can analyze and evaluate unstructured data like written natural language. Specific application areas include, for example, assisted writing, controlled language, and automatic text summarization. PTPT technology can be used to discover and connect related content in Big Data stores, checking it for consistency and making it available for further analysis. It can also serve as a basis for fraud detection applications, by identifying regularities and irregularities in different data sets.
Big Data: Many companies do not even know what they know
For Dr. Ramin Assadollahi, founder and CEO of ExB, expanding the PTPT platform to enterprise applications is the logical next step: “PTPT as an application for knowledge synthesis was designed first for mobile devices, since mobile applications have an obvious need for intuitive and resource-efficient information management. It now appears, however, that with more and more accumulated data, there has been a sharp increase in the need for effective use of Big Data in the corporate context. Here, PTPT is ideal because of its superior performance and versatility.”
New investors back ExB as development company and technology incubator
As part of ExB’s expansion, this new round of financing is underwriting growth in its development and sales teams as well as bringing in target market expertise, affirming the long term commitment of an investor group that includes Franz Burda, the KfW Group and the former CEO of Telefonica Germany, René Schuster. With this enhanced funding, ExB will further drive development of the PTPT platform and cognitive computing technology for both mobile and enterprise applications, successfully bringing these technologies to new markets.
Former Telefonica Germany CEO René Schuster sees ExB as proof of the high technical expertise and entrepreneurial vision present in German industry: “In my career I have seen very few companies that pursue such an innovative vision so consistently and persistently. Technology ‘Made in Germany’ has not been as bold and promising as PTPT in a long time.”
ExB and PTPT have shown their innovative strength and technological leadership in Big Data analysis in international competitions including GermEval and SemEval-2014. These competitions bring together teams from both academic institutions and technology companies, reflecting the state-of-the-art and the most recent new technologies for data analysis.
ExB’s incubator business model, in which it acts both as developer and marketer of technologies, has already demonstrated its success through the development and sale to Nokia in 2011 of its predictive typing application PreDICT, as well as the release in 2013 of its innovative email organization solution mailbe.at. ExB will continue to follow this business model as it extends its technology offerings further into Big Data and enterprise solutions.