Basis Technology Invests in LuminosoApril 17, 2013
Cambridge—April 17, 2013—Basis Technology, the leader in multilingual text analytics, announced a strategic investment in Luminoso, a startup out of MIT whose software helps computers work as easily with text as with numbers. Luminoso collects words via crowdsourcing to better understand how people view the world. For example, consumer goods retailers can learn what qualities customers value about their products, enabling them to hone in on what’s most important.
“The demand for text analytics is exploding,” said Carl Hoffman, CEO of Basis Technology. “Our collaboration with Luminoso will help both companies improve our abilities to understand human language.”
Luminoso utilizes Basis Technology’s Rosette linguistics platform to expand its ability to harvest information from multiple languages. Specifically, it relies on Rosette to automatically detect the language of text; perform morphological analysis and segmentation; and identify names, places, and organizations.
“Rosette enhances our technology by harvesting concepts from the huge numbers of people that speak languages other than English,” said Catherine Havasi, CEO of Luminoso. “Basis Technology’s investment will enable us to bring our technology to a larger group of customers.”
“Our investment in Luminoso is one of several we have made in companies at the cutting edge of unstructured text analysis,” Hoffman said. “Businesses have traditionally focused on numerical data but companies like Luminoso are delivering dramatic results by processing such information as social media, blog posts, emails, and other forms of written language.”
A spin-out of the MIT Media Lab, Luminoso brings an unparalleled level of insight to text data. The explosive growth of big data in business and the accompanying need for analytics has produced a wealth of tools for understanding statistics, demographics and other quantitative data, however, these capabilities have been lacking for text. Luminoso addresses this need by providing a fast, scientific option for understanding text. For more information, visit www.luminoso.com.
About Basis Technology
Basis Technology develops innovative products and solutions incorporating multilingual text analytics and digital forensics. The Rosette® linguistics platform provides morphological analysis, entity extraction, name matching, name translation, and Arabic chat translation, yielding useful information from unstructured data in such fields as information retrieval, government intelligence, e‑discovery, and financial compliance. The digital forensics team pioneers better, faster, and cheaper techniques to extract forensic evidence, keeping government and law enforcement ahead of the exponential growth of data storage volumes.
Our products and services are used by over 250 major organizations, including Amazon.com, Cisco, EMC, Exalead/Dassault, Fujitsu, Google, Hewlett-Packard, Hitachi, Microsoft, NetBase, Oracle, StumbleUpon, Symantec, and governments worldwide. Learn more at www.basistech.com or call +1-617-386-2090.