Many people have tried, but email refuses to die… although in the process it may (figuratively) hit some of us with the workload that brings it on triage and uses it. Is. A startup called Sedna has created a system to help that — especially for enterprise and other business customers — “read” the text of emails and chats, and automatically take actionable items within them so you don’t have to. Don’t have to And today, it’s announcing $34 million in funding to expand its work.
The funding, a Series B, is being led by Insight Partners, with Stride.VC, Shelfan Ventures and SAP.IO Fund (part of SAP) also participating. The funds will be used to continue to build more data science around Sedna’s core functionality, with the aim of moving to a broader set of verticals over time. Currently its core business is in the supply chain players sector, with Glencore, Norden and Bunge among its clients. Other clients in sectors such as finance include Neobank Starling. London-based Sedna is not disclosing valuations.
Bill Dobie, CEO and founder of Sedna, said the idea for the company was drawn from his own experience. “I spent years building software to help users be more productive, but with what we’ve built, we haven’t really reduced people’s workloads.” Reason: The millstone of what’s called email, with its endless, unsolicited, inbound messages, some of which (just enough not to be overlooked) can be important. “What really struck me was how long it took to transfer items to and from email,” he said of the “to-dos” that originated from there.
From that, Sedna was created to “read” the emails and give them more context and direction. Its system removes duplicates of action items and essentially increases the strike rate when it comes to people’s inboxes: what’s in it is what you really need to see. And it does so at a very high speed.
“Our core value is the enormous scale at which we operate,” Dobie said. “We all read millions or billions of messages in second response times.” In fact, while many of us may not be getting “millions” of emails, there is a world of messaging out there that needs to be read beyond that. For example, think about the amount of data that IoT-based diagnostics would reduce pike.
“Smart” inboxes have certainly become a thing for consumers—though arguably none work as well as you’d wish they did. The remarkable thing about Sedna has been how it has tuned its specialized algorithms to specific verticals, enabling them to be smarter about content and work practices in particular organizations.
Right now the work is driven by an API framework, with elements of “less code” formatting for people to shape their own Sedna experiences. The aim will be to make it even easier over time. Right now an API driven framework, in some less code we are moving forward, but mostly its SAP or shipping or trading system which understands the transactions, then sedna uses a decision tree for the categories.
Another area where Sedna may develop is how it handles the information it ingests. Currently, the company’s technology can be interconnected by a customer, then some of the work can be delegated to specific humans along with RPA systems. There’s a clear path to developing some of the software’s second phase – or alternatively, an indication of how something like Sedna could be snapped, or copied, by one of the big RPA players. Is.
Insight Partners principal Rebecca Liu-Doyle said in a statement, “Bill began to re-imagine email where it was most broken and therefore most difficult to fix – large teams that use large volumes and Manage complex processes. “Today, the power of Sedna lies in its ability to deliver the utmost speed, simplicity and delight to any inbox experience, regardless of scale or complexity. We are excited to partner with the Sedna team as they explore the global supply chain and beyond. We continue to make digital communications more intelligent for the teams ahead.” Liu-Doyle is joining the board with this round.
SAP is a strategic investor in this round, as Sedna potentially helps its customers become more productive when using the SAP system. “SAP continues to partner with SEDNA to deliver value to customers. The ability to transform complex information into simple intelligent collaboration has been a growing priority for many SAP customers,” said Stephen Sawyer, Global Transportation Solutions Lead at SAP said in a statement.