Narrative Science Inc., a Chicago, IL-based automated natural language generation company that uses data analytics combined with artificial intelligence to transform data into narratives and insights, secured $11.5m in equity funding.
Backers included new investors Jump Capital and SAP Ventures and existing investors Battery Ventures and Northwestern University.
The company, which had previously received a strategic investment from In-Q-Tel, will use the funds to further develop its platform and continue to build out its sales and marketing organization.
Led by Stuart Frankel, CEO, Narrative Science provides Quill, a patented automated authoring platform that combines artificial intelligence, data analytics and editorial expertise to transform large, complex data sets into narrative reports and other documents.
Content can be produced in formats including business reports, articles, summaries, visualizations and Tweets, allowing companies to create new products and optimize customer interactions.
Customers include companies in the financial services, insurance, information services, sports, marketing services and retail.