Digital Reasoning Scores Series-B Funding, Looks to Expand Reach
Digital Reasoning announced today that it has raised a Series-B round of funding led by In-Q-Tel, Silver Lake Sumero and other individual investors. The company didn’t disclose how much it raised, but GigaOM’s Barb Darrow uncovered the company’s SEC filing that puts the number at $4.2 million.
Digital Reasoning’s Synthesis platform uses proprietary algorithms to understand human communication “without having to have a human design an ontology or some other structure a priority,” CEO Tim Estes told Wikibon and SiliconANGLE during a recent visit to #theCUBE at Hadoop World.
Estes explains the concept behind Synthesis’ approach:
Currently Digital Reasoning’s platform is used largely by government intelligence agencies to analyze unstructured text-based communication to identify potential security threats. But, as the company’s President Rob Metcalf explains, Synthesis’ capabilities are applicable to other industries, including healthcare and financial services.
Digital Reasoning plans to use this latest round of funding to expand its reach into some of these non-government intelligence markets, according to the company. There is definitely plenty of opportunity, as more and more enterprises look to derive new insights and develop new products based on Big Data Analytics.
In addition to the funding, the company also announced that John Brennan, a partner at Silver Lake, will join the Digital Reasoning board.
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