AI company SparkCognition raises $56.5 mn 

AI for enterprisesArtificial intelligence (AI) company SparkCognition has mobilized $56.5 million in 2017 via final Series B Funding.

In June 2017, the US-based AI tech company announced an initial Series B raise of $32.5 million, led by Verizon Ventures and key participation from The Boeing Company, through its Boeing HorizonX unit.

CME Ventures, Brevan Howard Investment Holdings, Invenergy Future Fund, and Cisco former CEO John Chambers, and Cisco former chief development officer Pankaj Patel are additional investors participated in the final Series B close. In addition, an American global financial services company and one of the largest asset management firms, also participated in the round.

Amir Husain, founder and CEO of SparkCognition, said: “We are honored to gain numerous industry leading investors and receive support as we rapidly grow to take our place at the forefront of the AI 3.0′ revolution.”

The Austin-based company is deploying machine learning technology to customers in energy, oil and gas, manufacturing, finance, aerospace, defense, and security.