Kyndi, a San Mateo, Calif.-based company building an AI platform for decision makers in government, financial services and life sciences, raised $20m in Series B funding.
The round was led by Intel Capital, with participation from UL Ventures, PivotNorth Capital, and existing investors. Investment Director Sunil M. Sanghavi led the investment for Intel Capital and will join Kyndi’s board of directors.
The company intends to use the funds to expand its engineering and sales teams.
Founded in 2014 by Ryan Welsh, CEO, Kyndi is an artificial intelligence company building an explainable AI platform for government, financial services and life sciences. The platform scores the provenance and origin of each document it processes, while allowing organizations to quickly find difficult-to-locate information within collections of documents – without requiring large, labeled data sets to train the system.
In addition, the software can be used in conjunction with robotic process automation (RPA) tools to analyze text and automate inefficient workflows.
Customers include Fortune 500 pharmaceutical companies and government agencies.