Expert System (EXSY:MIL), a Modena, Italy-basded artificial intelligence solutions company, raised $29.4m in the latest round of funding.
The round included $20 million raised through institutional investors and $9.4 million through the exercise of shareholder option rights.
The company also added Colin Matthews, Chief Revenue Officer, and Keith C. Lincoln, Chief Marketing Officer.
As CRO, Matthews will lead the Expert System global sales organization. He brings 25 years of experience helping multinational enterprise SaaS companies build strong sales teams and scale revenue around the world. Prior to joining Expert System, Matthews was Senior VP of Sales at Avoka where he doubled revenue growth that led to the company’s acquisition by global banking software leader Temeos. He has held executive sales leadership positions at several leading Fintech companies, helping drive two successful IPOs at LifeLock (ID Analytics) and Yodlee.
As CMO, Keith C. Lincoln will be responsible for leading the global marketing organization and for communicating the value of Expert System products and solutions to all customers and channels, from data scientists and developers, to partners, technology providers and global organizations. He brings 20 years of experience in building, leading and scaling top performing marketing teams in high-growth multinational, SaaS companies. Lincoln has led marketing teams at InsightSquared, XebiaLabs, Telerik and SmartBear Software, and he is a regular speaker at industry events including Hubspot’s Inbound Conference, SxSW and MarketingProfs B2B Summit.
Led by Walt Mayo, CEO, Expert System provides technology and tools that support the creation, development, implementation and management of AI applications to unlock the value of language in the enterprise at speed and scale. Its flagship platform provides a mix of natural language understanding and machine learning algorithms to help organizations bring humanlike comprehension of any kind of text to accelerate business processes, enhance knowledge discovery and improve decision making. Headquartered in Italy, the company operates throughout Europe, the Americas, Canada and the Middle East across a vast range of sectors and use cases including content enrichment, customer care, compliance, third party risk mitigation and intelligence applications.