This Bloemfontein Firm Valued at R130m Wants to Simplify AI, Machine Learning

Thanks to recent improvements in internet connectivity and the emergence of numerous global big-hitters, South Africa has finally made a name for itself in the technological space. But while one might expect the country's'next big thing' to be found in tech-centric cities like Stellenbosch, it's in fact in an unassuming corner of Bloemfontein where the foundations for South Africa's own Silicon Valley are being laid. Founded in 2014, Bloem-based performance marketing company Xineoh is making waves internationally thanks to its unique vectorization algorithm, which has already generated in excess of $30 million in revenue for clients across the globe, attracting the interest of investors, with $2million received in backing to date in 2017. A pioneer in the AI and machine learning space, Xineoh's distinctive algorithm bears similarities to those used by the likes of Amazon.com and Netflix, tapping into user behaviour to predict potential purchasing behaviour and serve users bespoke information likely to incite conversion. Yet unlike these tried and tested models, Xineoh's algorithm relies on available rather than inputted information, creating associations based on the way other users have interacted with the same product or service, thus enabling it to be used across a wide variety of industries and generate uncannily accurate recommendations.