Simile Inc., an AI startup focused on creating digital twins of individuals, has successfully secured $100 million in funding. The investment was led by Index Ventures, which shared the news in a recent blog post. Other notable backers include Bain Capital Ventures, AI expert Fei-Fei Li, and Andrej Karpathy, co-founder of OpenAI Group PBC.
The company aims to improve how businesses gather feedback on products, particularly from challenging demographics like Fortune 500 executives. Simile has developed an AI model that simulates individual responses to various business scenarios, including new product features. Initial clients include CVS Health Corp. and Telstra Group, Australia's leading mobile internet provider. The model is also designed to assist publicly traded companies in preparing for earnings calls, accurately predicting eight out of ten analyst inquiries during a simulated session.
Co-founded by Joon Sung Park, Michael Bernstein, and Percy Liang, Simile's model draws on extensive data sources, including interviews and transaction logs, amassed over a seven-month development period. The startup seeks to create high-fidelity representations of real human decision-making processes.