About Summed AI
Summed AI is a company based in Seattle (United States) founded in 2024 by Tyler Rich, Kevin Bao, and Sherril Wang.. Summed AI has raised $500 thousand across 1 funding round from investors including Y Combinator. Summed AI offers products and services including Benefit Extraction AI, Plan Recommendation, and Sales Pitches AI.
- Headquarter Seattle, United States
- Founders Tyler Rich, Kevin Bao, Sherril Wang
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Summed Ai, Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$500 K (USD)
in 1 rounds
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Latest Funding Round
$500 K (USD), Seed
Jun 01, 2024
- Investors
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Employee Count
Employee Count
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Products & Services of Summed AI
Summed AI offers a comprehensive portfolio of products and services, including Benefit Extraction AI, Plan Recommendation, and Sales Pitches AI. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Extracts details from insurance documents for easy verification
Provides AI-based suggestions for health insurance plans
Generates compliant pitches to improve insurance sales processes
Funding Insights of Summed AI
Summed AI has successfully raised a total of $500K through 1 strategic funding round. The most recent funding activity was a Seed round of $500 thousand completed in June 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $500,000
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First Round
First Round
(01 Jun 2024)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jun, 2024 | Amount | Seed - Summed AI | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Summed AI
Summed AI has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Y Combinator. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Summed AI
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Summed AI
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Summed Ai Comparisons
Competitors of Summed AI
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Summed AI
When was Summed AI founded?
Summed AI was founded in 2024.
Where is Summed AI located?
Summed AI is headquartered in Seattle, United States. It is registered at Seattle, Washington, United States.
Who is the current CEO of Summed AI?
Tyler Rich is the current CEO of Summed AI. They have also founded this company.
Is Summed AI a funded company?
Summed AI is a funded company, having raised a total of $500K across 1 funding round to date. The company's 1st funding round was a Seed of $500K, raised on Jun 01, 2024.
What does Summed AI do?
Summed AI was founded in 2024 and is based in Seattle, United States. An AI-powered platform is offered to support insurance agents within the Medicare sector. Operations focus on simplifying the retrieval of plan details, which allows agents to allocate time toward other responsibilities. The service integrates technology to enhance efficiency in insurance processes without altering core agent workflows.
What products or services does Summed AI offer?
Summed AI offers Benefit Extraction AI, Plan Recommendation, and Sales Pitches AI.
Who are Summed AI's investors?
Summed AI has 1 investor. Key investors include Y Combinator.