Leximancer attracts international funding

Leximancer Pty Ltd, a text analytics software company with an innovative approach to understanding natural language, has secured investment from a London-based strategic investor.

Leximancer is developing revolutionary software tools that enable users to find meaning from text-based documents. It automatically identifies key themes, concepts and ideas from unstructured text with little or no guidance. The innovative concept map allows users to interact with the analysis – navigating the true meaning of the text.

Its unique approach is attracting a rapidly growing user base of individuals and organisations who are struggling with the problem of understanding unstructured data.

“Generally text mining tools approach natural language by trying to shoe horn it into database-style models that are only suited to structured data,” Leximancer Chief Scientist, Dr Andrew Smith said.

“Applying preconceived rules and categories generally results in both the destruction of complex meaning and the introduction of bias.”

“Leximancer adopts a complex systems approach which allows meaning to emerge from documents, and presents the user with a map of the major themes, concepts, and their relationships.”

The international investment will supplement Leximancer’s increasing revenue base, providing additional funds to accelerate product development and market penetration.

The University of Queensland’s main commercialisation company is the major shareholder in Leximancer and negotiated the investment.

Managing Director of UniQuest, David Henderson, said Leximancer represented a milestone for UniQuest as it is the first start-up company from the Faculty of Social and Behavioural Sciences.

“We are very proud of Leximancer and excited by its potential,” Mr Henderson said.

“Leximancer is operating in a large global market and having a quality investment partner with good connections in Europe, Asia and North America is very important.”

Media enquiries: Joe McLean (UniQuest) 0439 898 737 or Dr Andrew Smith 3365 7171