Digital Reasoning, a Nashville, Tenn.-based developer of cognitive computing technology, raised $40m in Series D funding.
The round was led by Lemhi Ventures and Nasdaq, with participation from existing investors Goldman Sachs and HCA. In conjunction with the funding, Tony Miller, managing partner at Lemhi Ventures, will join Digital Reasoning’s board as a director, while Adena Friedman, President and COO at Nasdaq, will join as an observer.
The company intends to use the funds to accelerate innovation and to implement Deep Learning technology into all of its offerings.
Led by Tim Estes, CEO, Digital Reasoning delivers advanced audio and image analysis, data science and new solutions across Enterprise, Government, and Health Care. Its flagship product, Synthesys, provides a platform for large-scale data analytics by taking unstructured, semi-structured and structured information as input and uses entity extraction with semantic relationship analysis to generate actionable information. This information (people, places, connections and actions) can then be used to understand and analyze what’s important and determine what actions need to be taken in order to mitigate the risk or expand an opportunity. Synthesys derives patterns and relationships from data itself, with no need to create new models for every new type of data or analytical problem.