NewtonX, The First AI-Powered Expert Search Engine, Closes $12M Series A Led By Two Sigma Ventures

Company Plans Significant Expansion of Personnel Along With
Investment in Technology and Data Acquisition To Empower Expert Discovery

NEW YORK–(BUSINESS WIRE)–#AINewtonX,
the first real-time expert search engine, today announces the closing of
a $12M Series A funding round led by Two Sigma Ventures, with
participation from Third Prime Capital and Xfund. The latest injection
of capital will support the company’s growth plans and expansion of the
organization’s personnel count from 30 to 100 within the next year. The
funding will be instrumental to the company’s efforts to increase expert
discovery capabilities through technology investments and data
acquisition, as the company officially launches its external facing
platform.

Founded by CEO Germain Chastel, COO Sascha Eder and CTO Anuja Ketan,
NewtonX’s expert knowledge search platform uses a proprietary suite of
artificial intelligence (AI) and robotic process automation (RPA)
technology to dramatically reduce the time and cost of surfacing
industry expertise and knowledge. NewtonX enables clients—including
Microsoft, 23andMe, and the majority of the top 10 management consulting
firms—to leverage the power of automation to connect with professionals
who have subject-matter expertise. The company has transformed knowledge
access for numerous Fortune 100 companies by cutting out the middleman,
providing streamlined connections to expertise for use cases such as:
voice of the customer analysis, competitive intelligence, product
benchmarking, and due diligence.

When my cofounder, Sascha, and I first conceived of NewtonX, we
were working on a highly confidential project that required insight into
market expansion opportunities for self-driving cars. We needed several
in-person workshops and a 50-expert survey within a one-week deadline,
but found that there was no solution on the market to meet this deadline
while maintaining the quality of the experts chosen,” says NewtonX CEO
Germain Chastel. “Our company’s growth—from three entrepreneurs working
out of a basement to over 30 employees out of Madison Avenue—only
reiterates this demand. We are thrilled to continue to grow our expert
discovery platform to help reimagine how business is done at some of the
largest institutions in the world.”

Since the company’s founding in 2017, NewtonX has built two core pieces
of technology—an expert search engine and an expert conversion engine—to
transform the process of finding and onboarding high-quality experts.
Now, two years later, NewtonX is opening this technology up to external
use in the form of a client-facing platform with a complete product line
that consists of four core offerings:

  • Expert Surveys: mobile-compatible surveys that deliver hundreds of
    data points in days
  • Expert Consultations: on-demand discussions with C-suite executives
    and niche subject-matter experts
  • Executive Recruiting: targeted recruiting of executives with unique,
    hard-to-find skillsets
  • Search Engine White Labeling: customized search capabilities for
    enterprise internal use.

“What struck us about NewtonX is that they’re attempting to create a
paradigm shift in the B2B expertise market. Incumbent market research
firms, consulting firms, and expert networks used to rely on
pre-existing pools of expert consultants,” says Dan Abelon, Partner at
Two Sigma Ventures. “We believe NewtonX is turning this model on its
head by automating custom searches to recruit the best experts in real
time for any given client request and, in doing so, is capable of
transforming multiple industries.”

NewtonX has even leveraged its own technology to recruit a talented and
diverse team. By using its search engine to proactively reach out to
hundreds of people for any given role, NewtonX is able to consider a
wide range of diverse candidates who may not otherwise have applied to
work at NewtonX, or in tech in general. As a result, NewtonX is proud to
have a team of over 50 percent women and, just as importantly, over 50
percent women operating in leadership roles.

For more information on NewtonX, please visit www.newtonx.com.

Contacts

Elaina Ransford
elaina.ransford@newtonx.com

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