DeepSee.ai, a Salt Lake City, UT-based AI-powered Knowledge Process Automation company, closed $22.6m in Series A funding.
The round, which brought total funding to date to $30.7m, was led by ForgePoint Capital, with participation from previous investors AllegisCyber Capital and Signal Peak Ventures. In conjunction with the funding, Sean Cunningham, Managing Director of ForgePoint Capital, will join the DeepSee Board of Directors.
The company intends to use the funds to accelerate product development and expand the platform beyond the capital markets and insurance verticals.
Led by Steve Shillingford, CEO, DeepSee provides a knowledge process automation (KPA) platform to mine unstructured data, operationalize AI-powered insights, and automate results into real-time action for the enterprise. Taking AI-productivity from the lab and into production, the KPA suite is especially useful in highly regulated industries such as the capital markets and insurance verticals, with a business solution flow architecture designed to automate line-of-business problems leveraging the very latest innovations in semantic modeling and natural language processing.
DeepSee solutions are designed to integrate and leverage its customers’ existing systems and tools, and to work across an array of enterprise activities, from complex risk analysis to critical compliance steps in post-trade reconciliations.