chata.ai secures $2.5M seed financing

chata.ai has raised $2.5 million in seed financing from local private investors.

Founded in 2011, Calgary based chata.ai intends to use seed funding for commercialization and growth. The company plans to debut their software at the QuickBooks Connect conference in Silicon Valley later this week.

An easy-to-use, cloud-based software service, chata.ai works as a conversational analytics assistant – allowing users to use natural “human” language to access, search and analyze business data, simplifying the tedious process of data interaction.

Kelly Cherniwchan, CEO, and the development team at chata.ai are narrowing in on the untapped value of most business data. The accounting industry is the company’s initial target market with a first integration planned with QuickBooks Online.

“Our goal is to provide a service that will save time, boost productivity and enable better-decision-making for accountants, bookkeepers and, by extension, their customers,” said Cherniwchan.

Connecting directly to an individual’s QuickBooks Online data, users simply type in a query – for example, “what were my sales over the past three months for Product A” – and get an immediate answer back.

“We add real value by removing the need to do tedious tasks – like exporting data, fumbling through spreadsheets, doing manual calculations, or learning complex business intelligence tools, said Cherniwchan.

photo credit: chata.ai

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.