FAYETTEVILLE – EX-IQ, a startup with ties to Fayetteville, has raised $3.245 million from 21 investors, according to an SEC filing.
The company provides mobile and desktop applications that allow learners to optimize their time, effort, and focus, according to its website.
Its technology is based on the application of artificial intelligence by providing the conversion of any written document into an interactive experience, noting that this solution allows a user “to transform their one-dimensional library of written material into a multisensory ecosystem featuring audible, interactive content.”
The company’s software also enables users to highlight and tag sentences, then automatically transcribes those notes into a searchable and shareable file, and provides users the opportunity to add dictated notes to the file as well.
“We removed all the friction-filled tedium of learning and replaced it with speed and joy, just for you,” the company website reads.
EX-IQ also operates the NoteCast podcast application. According to a LinkedIn post from Trevor Martin, partner at EX-IQ, the application lets a user transcribe up to 40-second snippets of audio into digital notes and enables tagging and commenting.
Prior investors in the company include Techstars, the Amazon Alexa Fund, and the Alexa Accelerator, according to the firm’s entry on PitchBook. The initial offering amount was $3.5 million, leaving $255,000 left to be sold, according to the SEC filing. The company was founded in 2017 and is led by president and CEO Christian Donohoe, who is based in Fayetteville.
