CognitiveScale, an Austin, TX-based provider of industry-specific machine intelligence software, received an additional $15m in funding.
This latest investment, which brought the company’s total to $50m to-date, came from Norwest Venture Partners, Intel Capital, Microsoft Ventures, The Westly Group and USAA.
The company intends to use the funds to further develop its augmented intelligence products.
Led by CEO Akshay Sabhikhi, CognitiveScale provides large enterprises with products to increase user engagement, improve decision-making, and deliver self-learning and self-assuring business processes. The company now intends to further advance its two flagship products, ENGAGE and AMPLIFY, which are built on its open and extensible Cortex OS.
ENGAGE focuses on transforming customer experience through any digital touch point. It interprets user goals, preferences, and context and delivers individualized insights by reasoning across billions of curated industry data points while learning continuously.
AMPLIFY works at the core of an organization, helping augment knowledge workers with contextual insights and deploy self-learning autonomous processes modeled after human cognitive architecture.
Both products learn from new data and customer interactions, and deliver future insights and advice that account for dynamic changes in goals, preferences, and the business environment.
The company, which also has offices in New York, London and Hyderabad, India, has deployed its enterprise-grade software with multiple Global 500 companies, and has formed strategic go-to-market and technology partnerships with IBM, Microsoft and Deloitte.