Behind the Investment: Jasper
If you’re not familiar with generative AI, it’s time to get acquainted. Generative AI is a branch of artificial intelligence that deals with creating content – content that can take any form: code, music, videos, and text. Underpinning generative AI are large language models (LLMs), perhaps the most heralded ad-vancement in AI’s history. LLMs can train neural networks to recognize increasingly intricate patterns in data and can be embedded seamlessly within software applications to help reduce the human capital required to produce content. They’ve changed the perception of a technology that people once thought was siloed to automating repetitive, simple tasks to one that can now augment and even exceed human creativity.
Recently, there have been several advancements in LLMs, including Google’s BERT, Microsoft and Nvid-ia’s Megatron-Turing NLG, and OpenAI’s GPT-3 and DALL-E 2. After decades of research and mass amounts of training, these models have surpassed our initial expectations to finally deliver (super)human results. However, accessibility and use of such models has been reserved for those with strong machine learning (ML) knowledge and technical experience.
Seizing the opportunity to democratize access to such powerful AI based tools, Jasper built a community-driven platform that makes it easy for anyone to write original and personalized copy by abstracting away the underlying complexities so that the creator can simply focus on producing quality content. As expert marketers, Jasper’s founders Dave Rogenmoser, JP Morgan, and Chris Hull saw the potential generative AI could have when creating marketing collateral, saving valuable time and resources for their users. With Jasper, individual creators and businesses alike can quickly break through writer’s block to take on all as-pects of the job, from drafting blog posts and ad copy to even creating original art.
Jasper attacked the market from the ground up by building a world-class user community and creating 50+ intuitive, workflow-specific templates for a variety of use cases supported in 25+ languages. The team continues to put the customer first by listening to their needs and responding with product releases to streamline their workflows, such as the new Chrome browser extension that lets users take Jasper with them across the full range of websites and content platforms they already use. This customer centric, PLG approach ignited the business to say the least. Within 18 months, Jasper experienced unprecedented and astounding growth, scaling to over 70,000 paying subscribers that range from individual creatives to large teams at content-forward companies. It’s clear that AI will continue to transform the way enterprises de-velop content and convey ideas, and Jasper is the best platform to help businesses take part in it.
With a shared vision and passion for redefining accessibility to generative AI, Insight is honored to be lead-ing Jasper’s $125M Series A with participation from Bessemer, IVP, Foundational Capital, Founders Circle Capital, Coatue, and HubSpot. With Jasper, we’ve come closer than ever to passing the Turing Test…can you tell who wrote this?