Digital Reasoning, a leader in Artificial Intelligence (AI) that understands human intentions and behaviors, today announced that it has raised $30 million in new funding. BNP Paribas led the round and Angel Rodriguez-Issa, Global Head of Strategic Investments, Global Markets at BNP Paribas, has joined Digital Reasoning’s board of directors.
Barclays and Square Capital also joined the round, as well as previous investors Goldman Sachs, Nasdaq, Lemhi Ventures, HCA, and the Partnership Fund for New York City.
“Global financial institutions are turning to AI to help drive digital transformation in order to improve revenues and efficiencies,” said Brett Jackson, CEO of Digital Reasoning. “The speed and accuracy of Digital Reasoning’s AI system transforms large quantities of structured and unstructured data about employees, clients, and competitors into valuable human-centric business insights. We are excited to partner with BNP Paribas and other investors and customers to enable them to reshape their businesses."
Digital Reasoning has a proven record operationalizing AI-powered solutions for financial institutions that deliver real ROI. This new round of funding will enable Digital Reasoning to expand its product portfolio for capital markets and wealth management use cases, accelerate key AI innovations across speech analytics, natural language understanding, and machine education and expand its go-to-market capacity.
“We are thrilled to have BNP Paribas lead this funding round, and for BNP Paribas as well as Barclays and Square Capital to join other world-class investors to support our vision,” said Tim Estes, president and founder of Digital Reasoning. “The new investment will enable us to use our novel and patented AI technology to turn all forms of communications data - including now audio and voice data - into discoverable, understandable, and actionable insights that help to accelerate customer-centric data strategies in the world’s largest Enterprises.”
“BNP Paribas’ digital transformation is a focal part of the group’s 2020 plan. It’s a transformation based on reinventing our clients experience, advancing the use of data and analytics and improving our operating efficiency,” noted Olivier Osty, Head of Global Markets BNP Paribas. “We are excited to have led this round of funding and to partner with Digital Reasoning, a leader in artificial intelligence technology. The partnership amplifies BNP Paribas’ commitment to innovative technology and harnessing it to help us better serve our clients.”
Source: Digital Reasoning
