LeadStory Secures $2.75M Seed Funding for Next-Gen AI Video Search

LeadStory Secures $2.75M Seed Funding for Innovative AI Video Search



In a significant move to redefine the landscape of personalized news consumption, LeadStory, a cutting-edge, on-demand news streaming platform, has successfully raised $2.75 million in a seed funding round. This funding will be pivotal in rolling out their groundbreaking AI video search functionality, which aims to enhance how users interact with news content. The round was spearheaded by Checker Media, an investment firm co-founded by former VICE Media Global President Jesse Angelo, with contributions from the American Public Media Group's Horizon Fund and pre-seed investor CP Ventures.

With a rapidly growing user base of over 10 million worldwide, LeadStory is well-positioned to evolve further. Jesse Angelo emphasized the inadequacies of existing platforms in providing accurate video news answers, stating that they often produce low-quality results. LeadStory's new AI feature aims to tackle this critical issue by delivering answers based on verified news clips from trusted sources.

As artificial intelligence increasingly integrates into daily life, issues such as pervasive hallucinations — misrepresentations and inaccuracies in AI-generated content — have raised concerns, especially in news delivery. A study by the BBC revealed that 51% of news-related AI outputs suffer from significant inaccuracies. Recognizing this challenge, LeadStory is committed to providing users with licensed video content that directly answers their queries, thus ensuring fidelity and reliability in news reporting.

Former television journalist Cam Price, the CEO and co-founder of LeadStory, highlighted the importance of addressing hallucination problems in AI-driven news. Instead of relying on text-based responses that may be misleading or erroneous, LeadStory aims to connect users with the precise moments from broadcast news stories relevant to their inquiries. This innovative approach guarantees that the information comes from fact-checked, reputable news outlets, thereby reinforcing users' trust in the platform.

“This initiative marks the commencement of a movement toward AI-driven, voice-activated search capabilities,” said Cheyne Wallace, co-founder and a former software engineer at UpGuard. With ambitions to pioneer advancements in AI-driven video search, LeadStory is determined to explore the full potential of AI technology in news dissemination.

LeadStory maintains partnerships with leading media organizations including CBS, CNBC, Reuters, and Euronews, which fortify its AI functionality and broaden the range of content available to users.

The company has seen substantial growth and recognition year-over-year, with its popular FAST channels presently available in twelve markets via Samsung TV Plus and in North America on VIZIO. Earlier this year, LeadStory made headlines by partnering with Mercedes-Benz to enhance their in-car video news services, marking the beginning of their foray into the automotive industry.

Founded in 2021 by journalists and tech professionals, LeadStory is at the forefront of redefining how users engage with news. By integrating user preferences with robust AI capabilities, LeadStory is geared towards delivering trustworthy, personalized news experiences suitable for modern audiences.

In summary, this new funding round positions LeadStory not only for expansion but also for pioneering advancements in how AI can enhance user engagement with news content. The company's commitment to accuracy, coupled with their innovative approach, sets a new standard in the evolving news landscape.

Topics Entertainment & Media)

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