Contextual AI has raised $80 million in a Series A funding round led by Greycroft, with contributions from existing investors like Bain Capital Ventures and Lightspeed. The funds will be used to bring their product, which enhances AI model performance through retrieval augmented generation (RAG), to market.
This technique improves AI accuracy by feeding it curated information. While the product isn’t yet widely available, Contextual AI is currently partnering with select companies in finance, technology, and media, including HSBC and Qualcomm.
“It’s been interesting to see RAG become a completely mainstream idea,” Contextual AI’s CEO Douwe Kiela told Reuters. “We don’t have to explain it anymore.”
