deepset raises $30 million to help the world’s biggest companies leverage LLM promise

The data dilemma

Until now, enterprises and their employees have had to rely on basic keyword-based searches when trying to find information from their unstructured data — document collections, reports, insights and other textual information. In 2015, enterprises created 30% of the total data worldwide and by 2025, this share is expected to double. For companies sitting on a mountain of data, searching, retrieving, summarising, discovering and analysing textual data quickly and accurately is one of the biggest challenges they face and only increasing.

LLMs are machine learning models capable of applying their learnings in seconds to solve a variety of business problems. They can be trained and scaled to develop linguistic intuition and semantics, so that they can synthesise information, summarise, compare and present understandable responses. While enterprises can see the value of such a tool, building LLM applications without the right expertise is a significant hurdle, even for enterprises with established AI teams. deepset helps companies to overcome this challenge, without relying on one single proprietary model that does not offer the customisability and nuance that enterprises need.

deepset Cloud, which is SOC2 certified, removes the barriers to entry for enterprises wanting to build their own LLM apps without sacrificing performance, sovereignty, data protection or customer trust.