StoryFile, a startup established in 2017, has filed for bankruptcy after gaining attention for its AI-powered platform that transforms humans into conversational chatbots.
The company, co-owned by William Shatner, voluntarily filed for Chapter 11 protection in the Southern District of New York.
According to the filing, StoryFile reported assets ranging from $100K to $500K and liabilities between $1 million to $10 million.
Despite raising $9.5 million and hinting at a Series A round, StoryFile failed to secure additional funding.
StoryFile plans to continue operating during bankruptcy proceedings and assures it will fulfill all existing customer obligations.
Owen Phillips, a company spokesperson, expressed optimism about emerging from bankruptcy as a stronger entity, emphasizing StoryFile's commitment to its conversational AI mission.
StoryFile's Conversa AI platform, utilized by Fortune 500 companies, facilitates the creation of conversational interfaces.
The startup's technology was also promoted as a means of preserving memories of loved ones, exemplified by the William Shatner chatbot project.
William Shatner's digitized persona, created by StoryFile, remains active, allowing users to interact with the iconic actor's virtual counterpart.
StoryFile's innovative approach extended to collaborating with institutions like the Illinois Holocaust Museum to create interactive chatbots for survivors and developing experiences for the National WWII Museum.
Despite financial challenges, StoryFile's legacy in conversational AI and digital preservation endures.
