Variance

“We are announcing that Variance is coming out of stealth and announcing their twenty-one million dollar Series A, and I am really excited to be here with Karine, the co-founder of Variance.”

“We've been working with GoFundMe, for instance, to review all of their fundraisers at scale, some Fortune 50 for verifying all of their sellers and complex UBO verifications, and today coming out of stealth.”

“So Variance is used to verify, for instance, if a fundraiser is going to be built for A military operation, for instance, or if you're building a fundraiser for a crisis that you were not part of, which would be fraudulent, well, GoFundMe sort of has the respo…”

“So at the moment, the way to integrate with variants can be reverse ETL, API, but very recently we've been awarded this third way, which is spinning up a browser, opening up a really old review tool that was built for a human, pulling that data, and then reaso…”

“You don't need a classifier anymore because AI agents are able to read a set of standard operating procedure and reason over an image or reason over sort of unstructured data and know that this is possibly chargeback fraud. You don't need a specialized classif…”

“And throughout the elections, because our AI agents had access to the context of entities in relation to other entities, so How does this user fit into all of the other users that we're looking at? We were able to detect really complex fraud rings of especiall…”

“So we're 12 we have five software engineers, so we've been, we've remained very, very lean.”

“What we found out is that because AI agents are able to take on the simplest part of the workflow, so they're able to triage 99% of cases, that one percent is usually going to be the most complex cases that need to be reviewed by a human, and you need a really…”

“I would say we're five, but I think in terms of software output, we're probably closer to a 25 people team.”

“Our customer success manager, who's entirely non-technical, but interfaces with enterprise customers on a day-to-day basis, now gets to take on feature requests, especially the simple ones, directly give them to Cursor, a Cursor agent, and then directly be abl…”

“Our first customer was a company called IAC. They're a publicly traded company.”

“As we were running this pilot for this first customer, sort of OpenAI was coming out with new models in the middle of the pilot, which was changing, one, our cost structure by a 10 x factor, but also was changing our performance quite a lot.”

“I think during that month, our revenue was doubling within the month and then doubling the month after.”

“Chance, you know, it's just, it's variance. It doesn't care if you're a good person. It doesn't care how hard you've worked. It doesn't care about anything. I mean, it's just random stuff that happens”