San Francisco (Monday, February 5, 2018) Innotech Capitals, an international private equity and venture capital fund, has made a seed investment in Glever.com that uses AI technology to make resume writing as simple as several mouse clicks. Glever, a product of Resure Technology. Inc, plans to expand into other automated writing for businesses.
"Today most writing is done by typing the content letter-by-letter. Glever.com is trying to change that into 'guided writing', in which the user only needs to provide hints or guidance to the computer, which can write for the user," says Oliver Chen, founding partner of Innotech Capitals. "Glever is the first automated resume writing tool, highly relevant to the AI/Big data investment focus of Innotech Capitals, in the recent years. Such a tool will be relevant for other industries as well once it matures. It's CEO, Xiaoxin (Aaron) Yin has the strong technical fundamentals and experiences to create such tools."
Glever first asks the user to provide his/her job title, and then starts creating possible descriptions for the job. When receiving more hints such as skills used in this job, or one sentence describing the main responsibility, Glever can create more detailed copy, specific for what the user needs. It can even finish a half-written sentence As a result a professionally written resume with the right contents can be written in minutes instead of hours or days. It is a free service.
Resure Technology founder and Glever.com CEO Xiaoxin (Aaron) Yin is a research scientist and engineer focused on machine learning and data mining. He got his PhD in computer science from Univ. of Illinois at Urbana-Champaign in 2007. He worked as a researcher in Microsoft Research from 2007 to 2011, focusing on applying machine learning technology to web search. Dr. Yin also worked in Google ads quality, and later at Houzz as head of marketplace quality.
"Assisted writing has a strong future across all businesses," says Dr. Yin. "For example, an auto repair shop needs to provide reports for customers as well as insurance companies. Writing these reports can be automated if supplied with key information such as type of damage, cost, etc. An online retailer needs to create description for many products, which can also be automated given product name, specs and images. In general, people spend a huge amount of time on writing every day, and we hope to make it much easier than today across a wide variety of applications."
The amount of the seed investment will not be disclosed.
Innotech Capitals, the investment arm of Innotech International Group, is an international private equity and venture capital fund focusing on the global internet market. As entrepreneurs in adtech, the founding partners, have extensive experience, network and resources in the Chinese AdTech sector to facilitate portfolio companies’ penetration into the China market. Additionally, synergies achieved between the portfolio companies further strengthens Innotech’s value proposition globally. Since it launched in July 2015, Innotech Capitals has transacted deals exceeding $500 million including acquisitions and exits. In addition to its private equity practice, Innotech Capitals also makes venture investments in early-stage, global startups that have the “first-mover” potentials into the China market.
Innotech Capitals has offices in Shanghai and San Francisco.
Innotech Capitals Bets on AI-Assisted Business Writing
With Seed Investment in Resure Technology Inc.'s Glever.com