Despite persisting sluggish deal activity, the VC activity around generative AI has been strong. As more and more use cases of the technology have emerged in recent months, alongside Chat GPT being adopted by the masses, we are thrilled to announce our first AI investment into Fifth Dimension AI (5D AI), which raised £2.3M led by Seedcamp.
The next generation of AI-generated content
According to Forbes Advisor, a whopping 97% of business owners believe ChatGPT will help their business while one in three plans to use ChatGPT to write website content. However, ChatGPT isn’t the only tool out there. The market for AI writing assistants has grown rapidly, including startups like Jasper AI and Writesonic, CopyAI, AnyWord and Copysmith, which mostly use the internet as their sole data source, resulting in rather generic outputs.
5D AI is taking this to the next level, using a customer’s proprietary data to train its LLM (large language models) and produce outputs tailored to the customer’s unique brand. Their unique framework for small LLM development allows them to tailor the product to the vertical they are targeting and mimic the customer’s style and tone of voice.
Initially, 5D AI is focusing on the property sector, a £16bn global serviceable available market, which is struggling with large sets of unstructured data. Currently, employees spend a disproportionate amount of time with manual data collation and repetitive document writing tasks, rather than the highly skilled tasks they’re paid to do. Most of that data does not exist on the internet, meaning ChatGPT-based AI tools provide limited advantages. Using Ellie, 5D AI’s own chatbot, users are able to automate workflows and increase productivity by 30%.
Why we’re backing the team
The “sounds like you” metric is unique to 5D AI and has been developed by co-founder Dr. Kate Jarvis, a highly skilled backend engineer whose experience spans over 12 years in software, data and people management. In addition to senior leadership roles as Chief Product and Technology Officer at Stint and Wayhome, where she met her co-founder, Johnny Morris, Kate also holds a Ph.D. in Linguistics from Stanford University. Together with Johnny, an experienced operator and data scientist with deep expertise in the real estate industry, they span extensive technology and startup operation experience. Having lived through a lot of challenges in their 3 years together at Wayhome, the dynamic duo left that experience wanting to start a business together.
Their deep technical understanding has been a crucial component in developing a unique product that outperforms generalist AI writing tools on the market. Companies are often reluctant to use ChatGPT because of data security concerns, which is why 5D AI builds LLM models with low-code, high-security tools and cloud platforms, such as Azure Open AI, to ensure data security at all times. All training data is hosted in 5D AI’s own domains in which every customer has their own production database, guaranteeing there is no cross-pollination of live data and all customer-specific data is secure.
Looking to the future: 5D AI’s plan
5D AI’s initial focus is the real estate industry and they plan to expand into other adjacent sectors such as construction, architecture, and finance. The process and system for developing workflow-specific LLMs is the same across all verticals, giving 5D AI the flexibility to run product discovery processes in other verticals to quickly assess the opportunity. Their agile approach to development and deployment of newly trained LLMs combined with their deep technical expertise, gives 5D AI the first mover advantage and puts them in a unique position to capture huge market opportunities in various industries.
Sie Ventures is thrilled to be on this journey with Kate and Johnny alongside Seedcamp and Anthemis Female Innovators Lab, Concrete VC, Love Ventures and Fuel Ventures.
Interested in other companies that Sie Ventures has invested in? Discover more here or visit our website here.
