SparkCognition, an Austin, Texas-based artificial intelligence (AI) company offers business critical solutions for enterprise customers, raised an additional $24m in Series B funding.
In June 2017, the company announced an initial Series B raise of $32.5m and this second tranche brought the total amount raised in the Series B to $56.5m.
The round was led by Verizon Ventures with participation from The Boeing Company, through its Boeing HorizonX unit. Additional investors participating in the final Series B close were CME Ventures, Brevan Howard Investment Holdings Limited, Invenergy Future Fund, and Cisco veterans, former CEO and Executive Chairman, John Chambers, and former EVP and Chief Development Officer, Pankaj Patel. One additional investor, an American global financial services company and one of the largest asset management firms in the world, also participated.
Led by Amir Husain, Founder and CEO, SparkCognition is deploying advanced machine learning technology to customers in energy, oil and gas, manufacturing, finance, aerospace, defense, and security.