Josh Cutler (L), Dan Grigsby (C), Pete Schwamb (R) are Deep Machine.
Serial Minnesota tech entrepreneur Dan Grigsby is at it again. Fresh off an earnout with Slyce, which purchased his previous company for ~$3.5m in 2014, Deep Machine is emerging from Minneapolis’ North Loop.
Cofounded with Josh Cutler and Pete Schwamb, their plan combines artificial intelligence and machine learning into a blended model that leads with consulting, followed with a custom recurring product subscription to ‘Deep Machine Retention.’
“Say for example you own a healthclub, a software company, or any sort of membership-based business,” Grigsby explains. “We can use your data to predict who is at risk of quitting and here’s how to save them.”
The vision is bold and explicit: “$50 million dollars of annual recurring revenue in five years. Why do something at a boutique level, when you can do it big at same time?” he posits. “We have something that is very unique and relevant in our subscription-based world, serving the heart of the business.”
The trio brings several years of relevant technical knowledge to the table. When Grigsby became the CTO of Slyce, his primary role was to oversee a core product that revolved around visual search algorithyms and retail. Schwamb, who also joined Slyce as chief architect, has experience ranging from weather modeling to predictive analytics applied to diabetes.
Cutler’s corporate experience starts with Microsoft Research and ends with Optum; in between he hopped around the startup world and did a number of projects for the DOD, including a model that predicted where improvised explosives were likely to be located, literally saving lives.
Deep Machine is currently in pilot with unnamed customers, with prices planned to “start in the six digits.”
“As our process gets dialed in, we’ll be bringing other people on board in R&D, sales and project management and to scale,” Grigsby predicts.
Needless to say, we’ll be tracking that status…