"TechCrunch" reports that natural language recognition company Ginger Software Ltd. has raised $5.4 million in an extension of its fourth financing round, including $5 million from Harbor Pacific Capital and Li Ka-shing’s Horizon Ventures, with the rest from current investors. The financing comes less than six months after the company raised $6.3 million, and brings the amount raised to $21 million.
Ginger Software CEO Netanel Jacobsson said that the proceeds would be used to develop more products using the company’s natural language processing platform.
Ginger Software, founded in 2007, has real-time proofreading grammar and spelling checker, a text-to-speech service and English-as-a-second-language products. The products use intelligent platform that understands crazy accents and nuances in meanings that can take local idiom and metaphors into account. The company is now implementing this technology in a several new products. "TechCrunch" says that Jacobsson declined to give a timeline for when these products will reach market, but he confirmed that the mobile versions of current products will be available by the end of the year.
“Currently we only have desktop and browser extensions but there is no question that mobile is where everything is going and we are working on a number or mobile products to address this opportunity,” Jacobsson said.
Published by Globes [online], Israel business news - www.globes-online.com - on August 22, 2012
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