Element Data, Inc., a Seattle, WA-based artificial intelligence and machine learning powered decision support software platform, closed a $1.7M seed funding round.
The round was led by Archibald Cox, Jr., with participation from Stephen Lawler, Erik Jorgensen, Scott Moore, Matt Sauri, and Capital BW LLC, run by Lea Wiviott and Marc Boracchia.
The company intends to use the funds to build a team of artificial intelligence and machine learning engineers to further develop the product.
Led by CEO Geoff McDonald, Element Data is creating a tech platform called Decision Insights Computation Engine, known as DICE, that provides insights into the why of human decision making and uncovers the factors that drive predictable outcomes. DICE does this by tapping into options, criteria, biases, and conditions that form the basis for any given decision and all considered alternatives. It is then delivered in a detailed compilation of analytics and psychographic and demographic insights – allowing individuals and organizations to influence their decisions.