Recommind, a San Francisco, CA-based provider of unstructured data management, analysis and governance technology, raised $15m in Series C funding.
The backer was SAP Ventures. In conjunction with the funding, SAP Ventures Managing Director Gaurav Tewari will join Recommind’s Board of Directors.
The company intends to use the funds to grow adoption of its technology platform as well as expand into new markets.
Led by CEO Bob Tennant, Recommind has developed the CORE platform, which provides rapid insight into massive amounts of data, allowing for quick, accurate decisions. Its patented platform uses machine learning and advanced analytics to identify patterns and concepts in unstructured, human-generated information such as email, word-processing documents, voicemail and social media.
Earlier this year, the company launched:
– Information Governance Suite, a solution for automatically organizing and managing information throughout the enterprise; and
– Hypergraph, a visualization application for discovering and analyzing patterns and relationships in information flows.
Recommind, which serves Fortune 500 enterprises, government agencies and international law firms (Customers include AstraZeneca, BMW, Cisco, Clifford Chance, Marathon Oil, Morgan Lewis, US Department of Energy (DOE), White & Case and WilmerHale), achieved $70.5m revenue in 2012.
It has offices in New York, Boston, London, Sydney and Bonn.
FinSMEs
18/09/2013