Financing to Accelerate Startup’s Platform for Synthesizing Enterprise Knowledge
NEW YORK–(BUSINESS WIRE)–July 17, 2018–
JPMorgan Chase & Co (NYSE: JPM) has made a strategic investment in Volley (volley.com), an artificial intelligence company that has developed a knowledge engine to generate, synthesize, and recommend personalized content for learning and knowledge management applications.
“Employees today face a ‘knowledge explosion’ of unprecedented scale,” said Volley founder and CTO Carson Kahn. “Volley’s mission to computationally synthesize the world’s knowledge represents a giant leap toward helping the world learn faster and cheaper with artificial intelligence.”
“Volley’s innovative technology to ingest, integrate, and target micro-learning content automatically can fundamentally transform the way firms like ours approach learning and knowledge management,” said Joseph Infozino, Head of Learning Platforms at JPMorgan Chase.
“We’ll use JPMorgan’s financing to expand our team’s unique AI expertise, accelerate our technical capabilities, and continue expanding delivery of Volley’s commercial platform to a variety of other leading banks and Fortune 500 firms,” said Volley founder and CEO Zaid Rahman.
“Volley is tackling and solving one of the most difficult and important problems in machine learning: extracting knowledge from unstructured information,” said Dr. Paul Walker, PhD, Volley Senior Advisor and former Global Co-Head of Technology at Goldman Sachs. “By extracting the ‘latent pedagogy’ from our information bases to generate learning resources automatically, we create a more informed and agile workforce in today’s information enterprise.”
In financing Volley, JPMorgan is joining an investor base which includes Zuckerberg Ventures, TAL (NYSE: TAL), and a variety of high-profile current and former executives from Goldman Sachs, Apple, Facebook, Udemy, and Dropbox.
ABOUT VOLLEY: Volley (volley.com) is a Silicon Valley AI startup on a mission to synthesize the world’s enterprise knowledge. Built by a world-class team of machine learning and natural language processing innovators formerly of Google, the U.S. intelligence community, Carnegie Mellon, and top Wall Street tech divisions, Volley’s knowledge engine cuts the cost of generating, organizing, and delivering key knowledge by up to 50% – a giant leap in the automation and personalization of enterprise learning and knowledge management. With customers throughout Fortune 100 financial services, Volley has been identified as a top AI innovator for learning in Harvard Business Review, and is a seminal partner of the UC Santa Cruz Center for Excellence in Data Science Research. Volley’s core team is headquartered in San Francisco, with a satellite in Austin. Watch Volley’s 2-minute teaser at volley.com/video, or learn more at www.volley.com.
ABOUT JPMORGAN CHASE: JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.