MIPS Project Detail:

RedShred

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Company

RedShred

Baltimore

Baltimore City

County

, Maryland

Founded:

2014

Website:

https://www.redshred.com/

Company Description:

RedShred™ builds software that can take complex business documents, like grants and RFPs, quickly extract the information that is most important to you, and give you an efficient way to review opportunities without all the manual intervention. Using a combination of natural language processing, machine learning, and industry-specific knowledge, RedShred™ can match a customer with the opportunities that best fit their profile and then give them the tools to analyze and respond to that opportunity quickly, giving them a competitive advantage. RedShred’s software is delivered on a SaaS/cloud platform.

MIPS Project

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Project #

5628

|

MIPS Round

56 |

Starting Date:

Aug 2015

MIPS Project Challenge:
Researchers were slated to create a method to automatically discover concepts and attributes from RFPs.

Project Scope:
Researchers were slated to develop the RFP corpus; create a new Wiktology version; create a New Semantic Similarity Model from RFPs; implement the concept extraction module; implement the slot discovery module; and evaluate results.

MIPS helped our company develop the first components of our underlying offering.

Jeehye Yun, Chief Executive Officer, RedShred

Results:

RedShred now offers its product online. The product offers automated RFP discovery, analysis and pre-qualification, with capabilities to optimize the RFP bidding process, rank opportunities to capability profiles, and extract RFP requirements automatically.

These MIPS projects resulted in one academic paper: Zareen Syed, Lushan Han, Muhammad Rahman, Tim Finin, James Kukla and Jeehye Yun, Querying Large Linked Data Resources, 14th Int. Semantic Web Conference, Oct. 2015.

RedShred received a $100,000 Technology Commercialization Fund grant in 2014. In March, 2015, the company was awarded a $150,000 loan through the Anne Arundel County Volt Fund. In May, 2015, RedShred received a $100,000 small business loan from the Baltimore County Boost Fund. In January, 2016, RedShred received a National Science Foundation Phase I and Phase IB STTR.

Additional Mtech/UMD Programs Utilized:
DC I-Corps

Additional Information:
RedShred was formed from lessons learned at SSG, a commercial and government IT contractor owned by Jeehye Yun. Having experienced the pain of RFP matching and shredding during her time running SSG, Jeehye teamed up with Jim Kukla, an experienced software engineer and former computer science researcher, to build RedShred. During the fall, 2013 DC I-Corps workshop, the founding team validated the value proposition with the market.