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Speaktoit Secures Funding From Intel Capital and Alpine Technology Fund

Investments Will Help Virtual Assistant Provider Expand Into Cars, Robots, Wearable Technology and More (January 30, 2014)

SUNNYVALE, CA -- (Marketwired) -- 01/30/14 -- Speaktoit, developer of human-computer interaction technologies based on natural language conversations and creator of the Speaktoit Assistant, today announced it has received investments from Intel Capital, Intel's global investment organization, and the Alpine Technology Fund, a strategic investment arm of Alpine Electronics. The funding comes as Speaktoit accelerates the development of its platform for allowing clients to add natural language virtual assistant capabilities to applications, gadgets, cars, robots, and wearable technology.

Speaktoit's first virtual assistant product, the Speaktoit Assistant application for iOS, Android, and Windows Phone devices, is nearing ten million downloads since debuting in 2011. The Assistant has the highest user rating of any virtual assistant on Android (its most popular platform) and is one of the highest grossing productivity apps since launching a premium feature set in 2012.

"Speaktoit firmly believes in the future of cross-platform virtual assistants that enhance the efficiency of its users' lives," said Ilya Gelfenbeyn, CEO, Speaktoit. "What has begun with smartphones over the past three years will soon touch many areas of our lives, including our cars and our homes. Intel Capital and Alpine Technology Fund are the perfect partners for Speaktoit's continued technological advancements in human-computer interaction technology."

"Our relationship with Speaktoit is a good example of Intel working closely with leading industry players to enable next generation, natural user experiences with Intel devices," said Sanjay Vora, head of Strategic Planning for Intel's PC Client Group.


"We are very excited about this opportunity and look forward to future collaborations between Speaktoit and Alpine Electronics," said Koichiro Kanda, Managing Director of Alpine Technology Fund. "We firmly believe in the balance between driver safety and a quality in-vehicle experience."

About Speaktoit
Speaktoit is a developer of human-computer interaction technologies based on natural language conversations. Its first product is the Speaktoit Assistant for mobile phones and tablets, which answers questions in natural language, performs tasks, and efficiently connects users to popular web services.

About Intel Capital
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,339 companies in 54 countries. In that timeframe, 206 portfolio companies have gone public on various exchanges around the world and 344 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.

About Alpine Technology Fund
Alpine Technology Fund is the strategic investment arm of Alpine Electronics. The investments are all equity based, focusing on innovative technology companies in software and services.

Alpine Electronics is an automotive electronics manufacturer that provides consumers and leading auto makers with audio, video, navigation and driver assistance products. The company specializes in system integration solutions with innovative vehicle entertainment and information technologies.

For more information or to reach Alpine Technology Fund, email inquiry@alpineosv.com

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