SparkCognition is a company that is already a force to be reckoned with. The company has established itself firmly as a technology leader in machine learning. They offer elegant solutions for customers in sectors including security, energy, telecommunications, oil and gas, defense, manufacturing, aerospace, and finance.
That’s already a very tall list but it looks like SparkCognition isn’t done yet. The company announced recently the close of $32.5 million in Series B funding. The series was led by Verizon Ventures, but also features participation from The Boeing Company through the Boeing HorizonX unit.
Boeing HorizonX was created to make targeted investments in businesses in early stage. They have invested in Zunum Aero who is working on new hybrid electric aircraft, and Upskill who are building enterprise software for devices using augmented-reality.
Vijay Doradla, director at Verizon Ventures, commented, “SparkCognition has pioneered the use of artificial intelligence to bring unparalleled advancements to many of the world's Fortune 1000 companies. We are thrilled to invest in SparkCognition again, and look forward to supporting the company as it continues to transform markets and the businesses of tomorrow.”
SparkCognition is a highly awarded company that is known for their modern technology, They develop asset-protection software for safety and security of IT, OT, and the IIoT. While the company launched its first product only three years ago, they have acquired dozens of high-caliber clients who appreciate them as a lead in computing analytics. They harness data to accurately mitigate risk while putting prevention policies in place to intervene in disasters.
The SparkCognition venture had already raised over $16 million from investors like MSD Capital, Alameda Ventures, CME Ventures, Verizon Ventures, and Brevan Howard. It seems as if many of these investors have also chosen to participate in this new round of funding.
It should be no real surprise that Boeing and Verizon are interested in this company, as they are clearly Austin Texas’s leading artificial intelligence company and their machine learning is used to analyze, predict and monitor cybersecurity breaches and system failures for some huge companies in defense, telecommunications, and aerospace industries.
“Security continues to be a burning need for customers, and continued breaches and hacks reiterate the inefficacy of current market offerings,” continued Doradla. “SparkCognition's demonstrated cognitive security platform brings a game changing narrative to the equation in this fast moving and emerging field.”
Amir Husain, founder and CEO of SparkCognition, had this to say, “Having industry stalwarts, Verizon and Boeing, support our existing investors in funding this new round of growth serves as tremendous validation of our technology and track record. There is massive demand for our category-leading AI solutions. The world is well on its way to an AI-powered revolution – where cognitive systems will truly augment human capabilities, but at machine speed and big data scale. Our real world deployments and on the ground successes speak to the broad applicability of SparkCognition's AI technology, and the tremendous promise of AI in general.”