SparkCognition, an Austin, Texas-based provider of artificial intelligence powered business-critical solutions, closed an initial $32.5m series B funding round.
The round was led by Verizon Ventures with participation from The Boeing Company, through its Boeing HorizonX unit.
Led by CEO Amir Husain, SparkCognition is a developer of machine learning technology with business-critical solutions in place for customers in energy, oil and gas, manufacturing, finance, aerospace, defense, telecommunications, and security. It deploys a cognitive, data-driven analytics platform for the safety, security, and reliability of IT, OT, and IIoT environments.
The company, which had previously raised more than $16m, intends to use the funds for its rapid expansion into oil and gas, utility, manufacturing, financial services, aerospace, and national security sectors.