Today Magic Feedback, a Copenhagen-based AI startup, announced today that it has raised €1.2 million for its platform that unifies and analyses user feedback.
The company was founded in 2023 by two former Google employees, Nima Vali Rajabi (CEO) and Francisco Arias (CTO).
With Magic Feedback’s proprietary machine learning models, User feedback is automatically unified and categorised with AI opposed to spending hundreds of hours manually trying to make sense of it.
Magic Feedback CEO and co-founder, Nima Vali Rajabi explained:
“Most product teams are doubling down on product discovery, making sure they understand their users’ problems and needs before building solutions.
However, one thing that almost every product team struggles with is that no one has time to unify and make sense of all the feedback collected.
Instead, feedback is scattered all over the place, slowing down decision-making and leading to solutions being built without key insights.”
Magic Feedback is a decisive move away from popular LLM models like ChatGPT for feedback analysis. Citing significant error rates and privacy concerns, the founders have developed their own proprietary machine-learning models.
According to Francisco Arias, CTO and Co-Founder of Magic Feedback:
“It turns out that when you analyse thousands of qualitative data points in support tickets, surveys, interviews, and other sources, the limitations of ChatGPT significantly impact the quality of your results.
In our use cases, we measured an error rate of up to 20 percent in the results. In addition to that, there were legitimate privacy concerns. So we made a hard decision to switch from ChatGPT to our own ML models in August.”
Magic Feedback officially launched its platform in September and has since launched various offerings, including AI-powered feedback surveys, forms, and a search engine.
The funding is led by Maki VC, with individual angel investor backing from Geeta Schmidt, former CEO and co-founder of Humio.
“I’ve been closely following Magic Feedback since its inception.
And by putting in the work and never compromising their vision, Nima and Fran have now positioned themselves to make a positive impact on every product on the internet.”
Lead image: Magic Feedback. Photo: uncredited.