Tuesday, August 14

BNP Paribas leads $30mn fundraising for AI tech firm

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Cognitive computing firm Digital Reasoning raised $30 million in new funding, led by BNP Paribas. Joining the round were Barclays and Square Capital, as well as previous investors Goldman Sachs, Nasdaq, and others.

Digital Reasoning describes it’s AI technology as understanding human intentions and behaviours. Its AI platform automates tasks and analyzes human communications for enterprises, government and healthcare industries.

The funding will be used to expand its product portfolio for capital markets and wealth management, and improve its speech analytics, natural language understanding and machine education.

The company’s AI system transforms large quantities of structured and unstructured data about employees, clients, and competitors into “human-centric business insights”, explained Brett Jackson, chief exec of Digital Reasoning, in a statement.

Tim Estes, president and founder of Digital Reasoning added that the new investment will help the company use its AI technology to turn all forms of communications data – including audio and voice data – into “discoverable, understandable, and actionable insights” for large enterprises.

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