Zirra rakes in $1.6m to evaluate startups

Artificial intelligence (AI)-driven startup evaluation company Zirra has raised $1.6m in its Series A round.

The company’s technology is designed to calculate startups’ valuations as well as other factors, such as estimated time until exit, risk or momentum, to inform investors.

The funding for the Israeli firm comes from individual investors including former Microsoft executives Moshe Lichtman and Soma Somasegar.

Local fund Singulariteam and AOL’s regional investment and scouting arm Nautilus also participated in the round that the company says values it at $6m.

Zirra’s analysis is based on combining aggregated data and AI-based analyses with insights taken from a network of experts from across various industries.

The company’s products allow investors or entrepreneurs to gain a deeper insight into a startup and the space it operates in for due diligence or competitive intelligence.

It also offers a product to help job seekers develop a better understanding of companies they are applying for.

Zirra plans to launch a chatbot-based interface to provide information on demand.

The startup counts a team of 15 and previously raised $700,000 in a seed round.

Copyright © 2016 FINTECH GLOBAL

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