Authors, Inc. Closes Equity Funding to Deliver StoryFIt(TM) Technology, the New Standard in AI Media Analytics

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.”LSC investment spurs Authors, Inc., data science development with new hires Grace Lin, Lead Data Scientist, PhD and Mark Bessen, Director of Product/Data Scientist

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.

 

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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.

Media contact:
Christen Thompson
Director of Business Development
christen@storyfit.com
(843) 509-4648

 

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.

Media Contact:
Janet Halpin, Senior Vice President, Treasurer & Investor Relations
investor.relations@lsccom.com
(773) 272-9275

Capital Factory

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.

Media Contact:

Kate Trumpower

marketing@capitalfactory.com 

Data Science, Happy Scientists & Publishing: Writer Updates

You know, as opposed to “mad” scientists. Did you ever ask how Google can be so wickedly accurate with their searches, sometimes populating the answer before you even finish typing the question? How about when you ask your phone a question and it gives you an answer? Well we have data science and the scientists who study it to thank for those and many other everyday applications, like image recognition, voice to text, price comparison websites, improved gaming, airline route planning, package delivery, and on and on. In truth, much of what we do today is impacted by the work of data scientists.

So what does this have to do with AUTHORS? Lots!

Over the past several months we have been hard at work building tools to analyze data, the text in manuscripts in particular. This is the heady work of data scientists. The more we understand the data (text) the better we will be at matching and recommending it to agents and publishers. We are hiring talented data scientists to work on our matching algorithms and much much more. Look at this little formula which can tell you the grade level of a book:

0.39 (total words / total sentences) + 11.8 (total syllables / total word) – 15.59

Really? Really. Data scientists examine massive amounts of data and outcomes to be able to predict what other data will do. Our guys at AUTHORS will be working on several things including making better matches and making recommendations to our partners and writers. This will make you the writer, agent, publisher happy with the outcomes.

When they are done with that, I am going to ask them to work on an algorithm that will help me predict how my fantasy baseball team will do.