Magazine article Information Today

MyRoar Delivers Natural Search to Financial Services: Here's a High-Tech Company That Offers an Innovative Search Tool for the Financial Market

Magazine article Information Today

MyRoar Delivers Natural Search to Financial Services: Here's a High-Tech Company That Offers an Innovative Search Tool for the Financial Market

Article excerpt

FOUNDER

Creating MyRoar, a natural language processing search engine targeted toward the financial services sector, seems as if it was the next natural step for Kate McDonough, the company's founder and president. McDonough, a former bond analyst with Bain Capital and Lehman Brothers, understands firsthand the frustration others have in the field when searching for vital information to assist clients with critical business decisions. So while still working in the industry, McDonough--whose background also includes computer engineering--founded MyRoar in September 2008 to help better empower analysts in their customer interactions. The premise behind the new company's launch is simple: "We're building a way that people can interface by actually asking questions instead of using keyword search," says McDonough.

STARTUP FACTS

MyRoar was launched with the help of a single private investor and a team that conducted research beginning in spring 2008. The company recently relocated from the Boston area to Silicon Valley (Mountain View, Calif.). "I found the environment, in terms of talent and the engineering side and financing for the company, that it was a better market for us out here," says McDonough.

One of MyRoar's team members is Merle Tenney, the company's chief technology officer, who has been working on product development in the natural language processing space for the last 30 years. After devoting the past year to R&D, McDonough says MyRoar is ready to begin begin installations and will start approaching potential clients before the end of 2009.

COOL TECHNOLOGY

Using natural language processing, MyRoar's technology is designed to provide financial services professionals (such as analysts) with a more accurate and efficient method of searching a variety of documents and sources, from Word documents and PDFs to data feeds. The company's natural language processing question-answering search lets users find specific answers to their questions in the middle of all of the data by entering their specific question into the search interface.

MyRoar's technology can help users find answers quickly regardless of the size of their organization's database. "In financial services, these firms have anywhere from three to four and up to 15 different services they get research from as well as internal research on their network," says McDonough. MyRoar indexes all of the content, including content from real-time data feeds. "We can plug those real time data feeds into the index so that information can also be indexed," she says. …

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