SparkCognition, an Austin, Texas-based global artificial intelligence (AI) company, closed a $100m Series C funding.
The round, which brought total funding raised to date to $175m since its inception in 2013, was led by March Capital Partners with participation from:
– Kerogen Digital Solutions (KDS)
– Hearst Ventures
– Dalus Capital
– Former CEO & Chairman of The Dow Chemical Company, Andrew Liveris
– Sustainable Technology Ventures
– Blue Horizon ex Ventures
– Paul & Ann-Kristin Achleitner
– Founders Equity Partners
– Richard and Laetitia Garriott de Cayeux
– Former Australian Prime Minister & former managing director of Goldman Sachs Australia, Malcolm Turnbull
– The Boeing Company through its Boeing HorizonX unit
– Former CEO and Chairman Emeritus of Cisco and current founder and CEO of JC2 Ventures, John Chambers
– Former President of Goldman Sachs, John Thornton
– MSD Capital, the private investment fund of Michael S. Dell and family
– Former EVP and Chief Development Officer of Cisco, Pankaj Patel
– Alameda Ventures
The company intends to use the funds to expand operations and its business reach.
Led by Amir Husain, Founder and Chief Executive Officer, SparkCognition builds AI technology for applications in the oil and gas, defense, utilities, aviation, and financial services industry to manage such critical functions as efficiency and safety.
The company has partnerships and engagements with top companies across multiple industries, including The Boeing Company, Hitachi High-Technologies, Aker BP, and many others.
SparkCognition recently partnered with Boeing to form SkyGrid, a joint venture focused on delivering unmanned aircraft system traffic management solutions through the use of AI and blockchain technologies.
The company currently deploys four main products across multiple industries:
– the DarwinTM automated model building product,
– the DeepArmor®️ AI-built cybersecurity solution,
– the SparkPredict®️ analytics solution, and
– the DeepNLPTM natural language processing solution.
These products are deployed on major assets such as combustion turbines, unlock insights and make predictions based on historical maintenance data and logs, and protect companies from even the most advanced cyber threats.