Falkonry, Inc., a Sunnyvale, Calif.-based provider of operational machine learning for Global 2000 industrial companies, raised $4.6m in Series A funding.
The round, which brings the total funding to $10.9m, was led by Presidio Ventures with participation from strategic investor Fortive Corporation, and existing investors Basis Set Ventures, Polaris Partners, Start Smart Labs and Zetta Venture Partners. In conjunction with the funding, Presidio Ventures President & CEO, Ted Tatsumi, and Fortive Vice President of Strategic Development, Raj Ratnakar, will join the board as observers. Mark Gorenberg from Zetta Venture Partners and Dr. Parveen Jain will continue as board directors.
The company intends to use the funds for supporting the growth in its engineering and customer success organizations to and expand its customer base.
Led by Dr. Nikunj Mehta, Founder and CEO, Falkonry provides operational machine learning for Global 2000 companies. Its machine learning system, Falkonry LRS, enables operations teams to discover patterns hidden in their existing operations data, apply predictive analytics and receive actionable insights, all without requiring data scientists.
Falkonry LRS can be used directly by industrial practitioners and can be deployed both on-premises or in the cloud.