MainFunc Launches AI-Powered Search Engine Genspark with $60M Funding and Anthropic Partnership

In June 2024, a startup named MainFunc launched its first product, Genspark. This AI-powered search engine was founded by alumni from Microsoft, Google, and Baidu.

The intersection of generative AI and traditional search has become a hot topic. Recently, Google added Search grounding to its Gemini AI Studio. Meanwhile, OpenAI integrated its powerful SearchGPT into ChatGPT.

MainFunc secured $60 million in seed funding, led by Singapore-based Lanchi Ventures. They also partnered with AI model maker Anthropic to introduce "Distill Web" for Genspark. This tool aims to make financial reports clearer and more accessible.

Distill Web launched just this week. It powers several features on Genspark, including Genspark Finance. Users can look up information on over 300,000 public companies. They can generate polished financial reports filled with colorful graphics and charts. This makes complex data easy to understand.

Want to see how Apple is doing after the new iPhone launch? Or how Google is faring in the AI race? Distill Web can generate reports that highlight key trends and interesting outliers. It’s like having an upgraded version of Yahoo or Google Finance.

Eric Jing, the co-founder and CEO of MainFunc, shared, “In the AI era, search will become a tool for agents. People won’t just search for links—they’ll come to complete tasks.” By combining different tools, users can do much more than just search.

In just four months, Genspark.ai gained over 1 million monthly users. This shows its growing role in AI-driven data accessibility. The recent update highlights its mission to change how users interact with data.

Jing explained, “Our target audience isn’t just financial professionals. It’s everyday users who want to make sense of financial data from public companies.” They hope to expand this to private company data in the future.

The standout feature of Distill Web is the Corporate Earnings Visual Reports. These AI-powered visualizations simplify complex earnings into flowing diagrams. They showcase revenue streams, costs, and profit margins. Currently, the platform offers over 300,000 visual reports, with more added each month.

To make things even easier, Genspark provides free Financial Data Packs. These downloadable PDFs offer visual analyses of income statements from over 100 major companies. Users can easily track revenue, expenses, and profits.

MainFunc believes Genspark outshines other AI search efforts. They focus on high-quality, accurate data. This helps avoid the issues seen with Google’s AI Overviews, which have produced misleading information.

Jing pointed out, “What sets us apart is that we don’t just use AI for tools—we create data platforms.” Their approach combines AI insights with traditional coding techniques to ensure reliable financial data.

To maintain accuracy, MainFunc evaluated various large language models to find the best fit for analyzing financial data. They discovered that Anthropic’s Claude model was ideal for this purpose, leading to a partnership.

“Claude excels at handling numbers and complex calculations,” Jing noted. “That’s why we chose to work with them for financial analysis.”

To build trust, Genspark implements strict validation measures. “A major barrier to trust in AI is hallucination. We double-check numbers using both AI and traditional methods. It’s crucial that the data is accurate and reliable,” Jing explained.

Distill Web offers more than just static reports. The All-in-One Company Dashboard consolidates key financial metrics for over 70,000 companies, giving users a comprehensive view of performance.

For those looking for deeper insights, the AI-powered Financial Copilot answers tailored questions. Users can compare companies or identify growth drivers.

“Normal users often don’t know what questions to ask,” Jing said. “That’s why we provide visually rich reports. Users can browse them and ask follow-up questions, removing the initial barrier to creating queries.”

Looking ahead, MainFunc plans to expand its offerings and introduce new features for Genspark. Jing mentioned, “We’re launching a new data search agent soon. It will autonomously gather accurate data from various sources, even when users are offline. This will deliver results in minutes that usually take hours or days.”

The company’s vision goes beyond just tools. They aim to transform data accessibility. “We believe high-quality data is more valuable than the models themselves. Our mission is to change how people access and understand data, especially for non-expert users,” Jing concluded.