MainFunc Launches Genspark: An AI Search Engine Revolutionizing Financial Data Accessibility

In June 2024, a startup called MainFunc launched its first product, Genspark. This AI search engine was founded by former employees of Microsoft, Google, and Baidu.

The intersection of generative AI, which can create content on demand, and traditional search has become a hot topic in the industry. Recently, Google enhanced its Gemini AI Studio with a feature called Search grounding. Meanwhile, OpenAI integrated its real-time web SearchGPT into its popular ChatGPT chatbot.

MainFunc secured $60 million in seed funding, led by Singapore’s Lanchi Ventures, along with support from global angel investors. They’ve teamed up with AI model developer Anthropic to introduce “Distill Web” for Genspark. This tool aims to make financial reports easier to understand and access.

Launched earlier this week, Distill Web powers several features on Genspark, including Genspark Finance.

With Distill Web, users can look up over 300,000 public companies. They can generate polished financial reports about earnings, complete with colorful graphics and charts. This transforms complex data into easy-to-read formats for everyone.

Want to check how Apple is doing after the new iPhone launch? Or how Google is faring in the AI competition? Distill Web can generate reports highlighting key trends and interesting details. Think of it as a turbocharged version of Yahoo or Google Finance.

“We believe that in the AI era, search will be a foundational tool for agents,” said Eric Jing, co-founder and CEO of MainFunc. “Users won’t just come to search for queries or links—they’ll come to complete tasks. By combining different tools, agents can achieve much more than simple searches.”

In just four months, Genspark.ai attracted over 1 million monthly users through word-of-mouth. It’s quickly establishing itself as a key player in AI-driven data accessibility. This update highlights its mission to change how users interact with data.

“We’re not just targeting financial professionals; we want everyday users to understand financial data from public companies,” Jing explained to VentureBeat. “Eventually, we hope to help with private company data, too.”

The standout feature of Distill Web is the Corporate Earnings Visual Reports. These AI-generated visuals turn complex financial data into flowing diagrams, showcasing revenue streams, costs, and profit margins. Right now, the platform offers over 300,000 visual reports, with more added each month.

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

MainFunc claims Genspark stands out from other AI search efforts due to its focus on high-quality, accurate data. This helps avoid the issues seen with Google’s AI Overviews, which have delivered hallucinated and erroneous information.

“What sets us apart is that we don’t just use AI for tools—we create data platforms,” Jing said. “We combine AI-generated insights with traditional coding techniques to ensure the accuracy of financial data.”

To maintain this focus on accuracy, MainFunc evaluated which leading large language models (LLMs) were best for analyzing financial data and generating accurate charts and graphs. They found that Anthropic’s Claude family was the best fit, leading to their partnership.

“We discovered that Claude, Anthropic’s model, is particularly good at handling numbers and complex calculations compared to others like OpenAI,” Jing explained. “That’s why we partnered with them for financial data analysis.”

To build trust, Genspark uses strict validation measures. “One major barrier to trust in AI is hallucination. To tackle this, we double-check numbers using both AI and traditional formula-based techniques. It’s critical that the data adds up and is reliable,” Jing added.

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

For users looking for deeper insights, the AI-powered Financial Copilot can answer customized questions, such as comparing companies or identifying growth drivers.

“Normal users often don’t know what questions to ask when looking at financial data,” Jing said. “That’s why we present pre-generated, visually rich reports. Users can browse these and ask follow-up questions if needed, removing the initial barrier of crafting queries.”

Looking ahead, MainFunc plans to expand its offerings and introduce new features to Genspark search.

Jing told VentureBeat, “We’re launching a new data search agent soon. It will autonomously collect accurate data from various sources, even when users are offline, delivering results in minutes that would normally take hours or days.”

The company’s broader 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 build a platform that changes how people access and understand data, especially for non-expert users,” Jing concluded.