SparkCognition scores more than $100m in funding from March Capital

AI technology developer SparkCognition has scored $100m in a new funding round which was led by March Capital Partners.

The FinTech has now raised a total of $175m in funding, marking it as one of the most valuable AI startups in the US, it claims.

March Capital Partners led the investment with participation also coming from Temasek, Kerogen Digital Solutions, Hearst Ventures, Dalus Capital, Former The Dow Chemical Company CEO Andrew Liveris, Sustainable Technology Ventures, Blue Horizon ex Ventures, Paul & Ann-Kristin Achleitner, Founders Equity Partners, Richard and Laetitia Garriott de Cayeux, Former Australian Prime Minister & former managing director of Goldman Sachs Australia Malcolm Turnbull.

Previous backers of SparkCognition including The Boeing Company through its Boeing HorizonX unit,  Former CEO and Chairman Emeritus of Cisco and current founder and CEO of JC2 Ventures John Chambers, Former Goldman Sachs president John Thornton, MSD Capital, the private investment fund of Michael S. Dell and family, former Cisco chief development officer Pankaj Patel, and Alameda Ventures

SparkCognition builds AI technology solutions for various functions within industries including financial services, oil and gas, defense, utilities, and aviation. The company currently has four major products. Its DarwinTM is an automated model building product, DeepArmor is an AI-powered cybersecurity unit, SparkPredict is an analytics solution, and DeepNLPTM is a natural language processing service.

Financial institutions can leverage SparkCognition to improve their cyber threat protection levels, protecting themselves from ransomware, viruses, malware and other attacks.

March Capital Partners managing director and co-founder Sumant Mandal said, “In a short few years, SparkCognition has proven itself to be one of the leading industrial AI companies in the world.

“We are proud to lead their Series C round and look forward to working closely with the company to drive its success even further.”

Copyright © 2019 FinTech Global

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