Numerous startups are on a quest to dethrone Google with AI-driven search engines, such as Perplexity, yet a newcomer named Exa envisions something distinct: a version of Google tailored specifically for AI operations.
According to the creators of Exa, the real need for a revolutionary search mechanism lies not with humans but with AI systems. As these systems become more embedded in both the business world and everyday life, they too require the ability to sift through the internet for reliable information, avoiding the pitfalls of erroneous data, without the capability to physically input queries.
Exa’s team is developing a service that allows AI to conduct searches in a way that’s fundamentally designed for artificial intelligence, introducing a unique approach to web searching.
Investing a hefty sum in GPUs (which were more readily accessible back then), the co-founders embarked on creating a machine learning model using a vector database and embeddings. This model, distinct from traditional transformer-based LLMs, is trained to comprehend links over text, offering a fresh perspective on searching.
“Instead of forecasting the subsequent word, our model anticipates the upcoming link,” explains Will Bryk, the CEO. “The web is filled with shared links; this forms the dataset for our training. Our goal is to train the model to reliably predict the next relevant link, introducing an innovative search algorithm,” he adds.
Similar to how an LLM predicts the next word to complete a sentence, Exa’s algorithm suggests the most likely following link (or links) without being influenced by SEO manipulation or the surge of AI-generated content that overwhelms traditional search engines.
This Monday, Exa revealed a $17 million Series A funding round led by Lightspeed’s Guru Chahal, with contributions from Nvidia’s NVentures and Y Combinator, as exclusively disclosed to TechCrunch. This brings Exa’s total funding to $22 million, following a $5 million seed round. Exa is a product of the YC Summer 2021 cohort.
“They have a truly grand vision,” comments Chahal. “Just as Google serves humans, they aim to provide for AI.”
Founded by two best friends during their first year at Harvard, CEO Will Bryk (now 27) and co-founder Jeff Wang (26) formed the team a year prior to the launch of ChatGPT. “We debuted before ChatGPT. Our original mission was not focused on facilitating AI instead, we wanted to harness AI to enhance search capabilities,” Wang reflects.
Following the explosive popularity of ChatGPT, various AI entities began approaching Exa for an API version of their search engine to integrate into their own models. Situated in San Francisco, Exa is part of the vibrant Cerebral Valley AI startup scene. Indeed, TechCrunch previously reported on a tweet by Wang that went viral as he sought companies interested in jointly purchasing office nap pods, highlighting the area’s intense work-and-rest culture.
Presently, AI enterprises serve as the primary clientele for Exa’s search engine, with applications ranging from AI chatbots querying the internet to respond to customer enquiries, to businesses seeking curated data sets for training purposes. Databricks, as highlighted by the founders, stands out as a key user, employing Exa to gather extensive training data for its model development efforts.
Roughly a year after unveiling the API version of their product, the founders report an exceptional surge in interest. Exa now caters to thousands of developers, though it’s worth noting the existence of a free tier enabling limited trial usage, alongside various subscription options. While the founders chose to keep specifics on revenue under wraps, they confirm its positive trajectory. Interestingly, apart from operating their own GPU cluster, Exa leverages AWS for hosting, steering clear of the AI-centric Google Cloud.
The Exa team harbors no direct intentions of overthrowing Google. However, if AI continues to escalate in prominence as anticipated by the tech community, search platforms dedicated to AI could emerge as unforeseen challengers to Google’s dominance.
Compiled by Techarena.au.
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