US-based intelligent text platform developer Textio raised $8m on Wednesday in a series A round backed by Bloomberg Beta, media company Bloomberg’s early-stage investment arm.
Venture capital firm Emergence Capital led the round, which also included contributions from Cowboy Ventures and Upside Partnership. Bloomberg, Cowboy and Upside previously funded a $1.5m seed round for Textio in February this year, according to the company.
Textio has built a platform capable of analysing business documents as they are written in order to predict their performance. Its first product, Textio Talent, focuses on talent-based documents such as job listings and recruitment emails.
Kieran Snyder, CEO and co-founder of Textio, said: “As Textio moves into performance feedback and other document types next year, we are privileged to have an investment partner with so much depth of experience in domain-specific cloud technology.
“We will build our customer and technology teams significantly as we extend our platform.”