CognitiveScale, an Austin, Texas-based provider of industry-specific machine intelligence software, completed a $21.8m financing round.
The round was co-led by Norwest Venture Partners and Intel Capital. In conjunction with the funding, Norwest’s Promod Haque and Intel Capital’s Vibhor Rastogi will join CognitiveScale’s Board of Directors.
The company intends to use the funds to grow global sales and delivery and accelerate development of its product portfolio.
Founded in 2013 by Manoj Saxena, Executive Chairman, and led by Akshay Sabhikhi, CEO, CognitiveScale provides ENGAGE and AMPLIFY, which that interpret multi-structured big data and weave knowledge and learning across the enterprise—from the front office to back office to mission critical core functions to allow enterprises to manage and improve customer engagement, improve decision-making, and deploy self-learning business processes.
ENGAGE focuses on transforming customer experience through any digital touch point by interpreting user goals, preferences, and context and delivers individualized insights
AMPLIFY works at the core of an organization to augment knowledge workers with contextual insights and self-learning autonomous processes modeled after human cognitive architecture.
The company, which has deployed its products with Global 500 companies in financial services, healthcare, and commerce, has offices in the United Kingdom and India, and strategic partnerships with IBM and Deloitte.