Accern, a New York City-based Artificial Intelligence (AI) startup for the financial industry, closed a $13m Series A funding.
The round was led by Fusion Fund with participation from Mighty Capital, Allianz Life Ventures, Vectr Fintech Partners and Viaduct Ventures and existing angel investors.
The company intends to use the funds to expand its customer base and further develop its platform.
Founded by Forbes 30 Under 30 alumni Kumesh Aroomoogan, a founding member of the Forbes Finance Council, and Anshul Vikram Pandey, Ph.D., a data-science researcher, Accern provides a no-code platform that allows users in the financial service industry to build workflow automation and risk management solutions for investment research, credit lending, financial crimes (KYC) and reputational risks, among others. Its clients and strategic partners include Allianz, Jefferies, IBM, Google, and Microsoft. This is the second equity-financing round Accern has closed since its formation in 2016, with $14.5M raised to date.