Growth Through Investment, Resale Partnership, Data Science Hires, and Board Additions
August 2, 2017 | Austin, TX — AI startup Authors, Inc. has raised financing from LSC Communications. Authors, Inc. and its StoryFitTM technology combine machine learning and natural language processing with sales performance and text-driven marketing insights to increase per-property revenue for the publishing and movie industries.
LSC Communications joins Techstars and local angel groups in their investment in the Austin-based media tech startup that will use the new funds to continue its machine learning model development and dynamically expand its business.
“We are thrilled to have the new backing of LSC Communications, whose investment in Authors, Inc. demonstrates their market leadership in delivering cutting edge technology solutions to the publishing industry,” said Monica Landers, CEO of Authors, Inc.
“In our continued journey to invest in new technologies, we are thrilled to be making an investment in Authors, Inc.” said Thomas J. Quinlan III, Chairman and CEO of LSC Communications. “Machine learning and AI are positively impacting many industries and we are excited about these new products and solutions we are bringing to publishers.”
In addition to LSC Communication’s investment in Authors, Inc., the companies have collaborated on a business level to directly integrate Authors, Inc. technology into LSC’s existing digital distribution platform and bring new services to market for their publishing clients.
Authors, Inc., also adds two new members to its board of directors: Bob Nelson, EVP, Publisher Services at LSC Communications, and Gordon Daugherty, Managing Director at Capital Factory.
“Authors’ StoryFitTM products perfectly complement LSC’s legacy publisher offerings and come at a pivotal time in the industry,” said Nelson, who supports LSC Communications’ strategic efforts to expand and diversify the multi-billion dollar company’s product offering through acquisition and development of technological innovation. Nelson’s experience includes machine learning company CognitiveScale, and publisher service companies LSC and Baker and Taylor.
“Having worked with the Authors Inc., team for the past two years since joining the Capital Factory accelerator, I am excited to be involved in this next phase of growth,” said Daugherty, who has been advising startups for more than 15 years and is a Managing Director for Austin’s entrepreneurial center of gravity, Capital Factory. “Artificial intelligence will dramatically revolutionize most industries and Authors, Inc., is well poised to be the leader in AI innovation for the entertainment industries.”
Two top data scientists have joined the powerhouse media and technology team to grow the StoryFitTM technology: Grace Lin, PhD, a former NASA data scientist whose dissertation explored building predictive algorithms from scripts using NLP; and Mark Bessen, former data scientist at Apple who worked on iBooks and iTunes Movies & TV.
“As a company, we’re passionate about merging art and technology to champion great story-telling. It’s an incredible time to be in AI with a great team, great partners, and secure funding for growth,” said Landers.
About Authors, Inc.
Authors, Inc. is an Austin-based technology company that brings innovative technology to the publishing and film industries through artificial intelligence, machine learning, and natural language processing (NLP). Their StoryFitTM technology delivers contextualized data directly from the text that supports editorial, marketing, and sales efforts with audience psychographics, story-arc comparative data, and audience accessibility statistics.
Director of Business Development
About LSC Communications, Inc.
With a rich history of industry experience, innovative solutions and service reliability, LSC Communications (NYSE: LKSD) is a global leader in print and digital media solutions. The company’s traditional and digital print-related services and office products serve the needs of publishers, merchandisers and retailers around the world. With advanced technology and a consultative approach, LSC’s supply chain solutions meet the needs of each business by getting their content into the right hands as efficiently as possible.
Janet Halpin, Senior Vice President, Treasurer & Investor Relations
Capital Factory is the center of gravity for entrepreneurs in Austin, the number one startup city in the U.S. Last year more than 90,000 entrepreneurs, programmers and designers gathered day and night, in-person and online for meet-ups, classes and co-working. We meet the best entrepreneurs in Austin and introduce them to their first investors, employees, mentors and customers. According to Pitchbook, Capital Factory has been the most active investor in Texas since 2013.