Infactory Raises $4M to Revolutionize Fact-Checking with Generative AI
Infactory, a generative AI-powered fact-checking startup, secures $4 million in funding to tackle online misinformation.
Infactory, a San Francisco-based generative AI startup, recently raised $4 million in seed funding led by Bee Partners, with participation from a16z's Scout Fund, Alumni Ventures, and FJ Labs.
This funding values the company at $25 million and will support its mission to address the growing problem of online misinformation through advanced fact-checking technology.
Business Model and Target Market
The company plans to market its fact-checking engine to enterprise customers, such as newsrooms and research organizations, under a subscription model.
By focusing exclusively on verifiable data and sidestepping contentious topics like politics, Infactory aims to establish itself as a reliable tool for accurate information, free from the pitfalls that plague current AI-based search engines.
Unlike many generative AI systems that have struggled with bias and misinformation, Infactory employs large language models (LLMs) selectively. Their platform uses LLMs to understand the intent behind natural language queries, but it does not generate or infer the answers directly. Instead, the company prioritizes reliable data from vetted sources, ensuring that information remains accurate and verifiable.
Infactory's approach represents a clear departure from its predecessor, Humane, which focused on AI hardware. The founders recognized the complexities and challenges in the hardware market and shifted their efforts to a software-based solution aimed at improving information reliability.
As part of its strategy, Infactory collaborates closely with trusted data vendors, focusing on computational accuracy over subjective content.
The Team Behind Infactory
Founded by former Humane executives Brooke Hartley Moy and Ken Kocienda, Infactory aims to offer a solution to the challenges faced by traditional fact-checking services.
Their combined experience in AI, product development, and strategic partnerships positions Infactory well to address the complex challenges of AI implementation across various industries.
The newly secured funding will be directed towards expanding Infactory's team and scaling its go-to-market strategy. With a planned launch in the coming months, the company is poised to make a significant impact in the ongoing fight against misinformation, leveraging AI with a cautious and discerning approach that values accuracy above all else.