BlackSwan Technologies, a Tel Aviv, Israel-based provider of an enterprise AI operating system, raised $28m in Series A funding.
The round was led by Prytek, FinTLV and MS&AD Ventures.
The new funding will be used to accelerate growth, continue developing new advanced AI applications and expand the team.
Led by founder and CEO Michael Ouliel, BlackSwan Technologies is launching an enterprise AI operating system, enabling any company to leverage advanced artificial intelligence for a high level of operational efficiency and data-driven decision making.
The company’s signature Platform as a Service (PaaS), ELEMENT, accomplishes this by combining multiple AI technologies — including machine learning, natural language processing, deep learning, neural network and data operation facilities — into a single platform.
ELEMENT does not require well-organized data sets, countless hours of data normalization or technical in-house expertise to implement. Its Low code/No code, cloud-agnostic system includes several advanced enterprise applications including for Risk Management, Compliance, Lead Generation, Personalization and Market Intelligence. The platform also allows users to build enterprise applications.
Since it began offering its technology to a limited customer base earlier this year, the company has generated tens of millions of dollars in revenue through multi-year contracts with many leading businesses. The company has also established a partnership with Deloitte to provide global banks an AI-powered platform that is already proven to increase revenue and drive efficiencies.
BlackSwan Technologies is based in Tel Aviv, Israel with offices in the United States, United Kingdom, Poland and Germany.