ayfie Group, an Oslo, Norway-based provider of advanced big text analytics solutions, raised $10m in funding.
The backers remained undisclosed.
The company intends to use the funds to accelerate its growth and extend its product offerings building on its reach in the legal tech sector and financial tech markets.
The funding will be invested in growing the North American commercial team in the new Denver office and raising ayfie’s global market awareness with additional marketing and sales activities.
Led by Erik Baklid, CEO, ayfie offers search and text analytics solutions that bring structure to unstructured data. Its feature set combines AI with more than 30 years of linguistics, computational linguistics and computer science expertise to extract meaning from text – almost like a human being would. Professionals across the legal, finance, healthcare and media industries use ayfie’s text analytics engine to identify critical insights, conduct search and power business intelligence solutions.
The company is headquartered in Oslo, Norway with offices in Denver, New York, Washington, D.C., Munich, London and Stockholm.