SparkCognition, an Austin, Texas-based global leader in artificial intelligence (AI) software solutions for business, closed a $123m Series D funding round.
Backers included March Capital, Doha Venture Capital, B. Riley Venture Capital, AEI Horizon X, Temasek, Alan Howard, and Peter Löscher. Following this round, the company achieved a unicorn valuation in excess of $1.4 billion, bringing the total capital raised to $300m.
The company intends to use the funds to accelerate sales and marketing efforts, amplify research and development investments, and facilitate organic and inorganic growth.
Led by Amir Husain, Founder and CEO, SparkCognition provides AI solutions that allow organizations to predict future outcomes, optimize processes, and prevent cyberattacks. The company partners with industry leaders to analyze, optimize, and learn from data, augment human intelligence, drive profitable growth, and achieve operational excellence. Its patented AI, machine learning, and natural language technologies allow organizations to solve critical challenges—prevent unexpected downtime, maximize asset performance, optimize prices, and ensure worker safety while avoiding zero-day cyberattacks on essential IT and OT infrastructure.
The investment brings the latest validation of the value SparkCognition brings to customers across global industries, including oil and gas, renewables, manufacturing, financial services, transportation, and government.
FinSMEs
25/01/2022