Eigen Technologies, a NYC- and London, UK – based provider of natural language processing technology, raised $37m (£29m) in Series B funding.
The round – which brought total funding raised by Eigen to $55m (£43m) – was co-led by Lakestar and Dawn Capital, with participation from Temasek and Goldman Sachs Growth Equity.
The company intends to use the funds to accelerate market expansion in both North America and Europe, as well as to further invest in R&D.
Eigen is a research-led artificial intelligence company based in London and New York. Our mission is to help individuals and organizations make the right decisions, and we do this by unlocking the value of their qualitative data.
Founded in 2014, Eigen automates the extraction and classification of information from documents via Natural Language Processing (NLP) technology, which can be integrated into clients’ workflows. It uses machine learning algorithms to recognize patterns in text and give accurate answers to unique questions. This enables clients to use data to drive down costs, find opportunities, calculate risks, and meet regulatory requirements.
Clients include Goldman Sachs, Hiscox, Allen & Overy, and ING.