(DALLAS, TX - April 25, 2024) - The North Texas Angel Network (NTAN), an accredited angel investor organization, is excited to announce a portfolio startup Responsum, a company that developed a generative AI and natural language processing platform to help organizations unlock productivity, was acquired by Elixirr, a global consulting firm.
Ichan Stall, NTAN Co-Chairman and the due diligence lead, shares, "We are excited to be part of Responsum’s journey and quick exit! It was a joy to partner with a company involved in solutions around Generative AI and machine learning. Steve Steinberg and Adam Hofmann, the co-founders, were wonderful to work with and enabled us to have a smooth due diligence process, ultimately leading NTAN members to invest in Responsum.”
Three NTAN members invested $20,000 in Responsum’s overall $1.5 M seed round.
On NTAN’s investment, Responsum’s CEO Steve Steinberg notes, “Plugging into the NTAN network enabled us to make important connections with customers and other investors, propelling our startup forward at a critical moment in our growth.”
Responsum’s platform enables enterprises to quickly prototype, test, and deploy generative AI solutions that leverage internal files, data, and APIs to drive measurable productivity gains without sacrificing security. The platform has been used to increase the productivity of sales teams, boosting the accuracy and speed of underwriters, transforming how research analysts review and assess company performance, and streamline access to important company knowledge across all departments.
Jeff Murphy, NTAN’s Executive Director, adds, “Responsum established a relationship with NTAN in 2022, and it was compelling to see how our investors supported Responsum as they continued to grow and work to complete their seed round. Experiencing an exit in less than a year was a thrill for all! This deal and exit are what angel investing is all about.”
About North Texas Angel Network
Since 2008, the North Texas Angel Network (NTAN) has connected early-stage companies with angel investors to help private investors make private deals with private companies. The nonprofit, member-led organization reviews investment opportunities across industries, including medical device and service companies, software and hardware technology, and construction innovation, among others. One of the oldest and largest networks in Texas, NTAN is a member of the Angel Capital Association. Follow NTAN on LinkedIn.
About Responsum
Responsum is a platform that combines the latest technologies together to allow organizations to quickly seek solutions to their specific data and challenges. The platform is used across multiple industries to eliminate repetitive work, train and upskill employees, increase customer experiences, streamline workflows and scale manual processes, and more. By creating an AI platform for your business challenges, Responsum aims to help consumers connect to their data, challenge, and workflow to the optimal AI discipline. Learn more at www.responsum.ai.
