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Bloomsbury.AI joins Facebook
London, 26 June 2018. ACXIT’s partner FirstCapital advised Bloomsbury.ai joining Facebook.
Bloomsbury AI has recently announced its decision to join Facebook. The Bloomsbury team will be based at Facebook AI Research’s London office, building on their AI efforts and working with a roster of strong engineering talent from Facebook, including scientists and academics.
Since its founding in 2015, Bloomsbury AI has built a leading expertise in machine reading and understanding unstructured documents. The company’s specialist focus on natural language processing technology is certain to be of value to Facebook AI Research, whose mission is to advance the field of machine intelligence.
Facebook AI Research has commented, “We’re excited to announce that the team behind Bloomsbury AI has agreed to join Facebook in London. […] Their expertise will strengthen Facebook’s efforts in natural language processing research, and help us further understand natural language and its applications. We look forward to welcoming them to Facebook and we can’t wait to see what we build together.”
Working with Facebook, the Bloomsbury team plans to continue to grow their natural language processing and AI expertise, pursuing in-depth research into text understanding and reasoning systems. FirstCapital advised Bloomsbury AI and its shareholders.
Founded in 1999, FirstCapital is one of the leading independent technology investment banks in the UK, with offices in London, Silicon Valley and Dublin.
Focusing on high-growth technology companies, FirstCapital has developed an exceptional track record in M&A and private placements for companies in the software, internet and digital media and tech-enabled services sectors, with a proprietary SMART dealmaking framework which is proven to deliver premium outcomes. Since September 2019, FirstCapital is a strategic partner of ACXIT Capital Partners. (www.firstcapital.co.uk)