SparkCognition, an artificial intelligence, analytics and data security startup, Tuesday announced it has received $6 million in venture capital.
The Austin-based company closed its Series B round with new investors CME Ventures and Verizon Ventures with participation from existing investors The Entrepreneurs’ Fund and Alameda Ventures.
SparkCognition, founded in 2013, plans to use the funding to expand its business in the Internet of Things and Cybersecurity industries.
“We are already well on our way to an AI-powered Industrial IoT Revolution – where cognitive systems will truly augment human capabilities, but at machine speed and big data scale,” Amir Husain, Founder and CEO of SparkCognition, said in a news release. “Our collaboration with CME Ventures and Verizon Ventures further validate the work we are doing at SparkCognition and speak to the industry needs we are addressing within the Industrial IoT and cyber security markets.”
SparkCognition has developed artificial intelligence software, sensors and data that can secure and protect industrial assets. The company’s clients include Fortune 500 and Fortune 1,000 organizations.
“We are excited to have CME Ventures and Verizon Ventures joining as strategic investors,” Manoj Saxena, Chairman of the Board of SparkCognition and Former General Manager of IBM Watson said in a news release. “The executive team at SparkCognition has done a remarkable job of acquiring an impressive list of clients, bringing on the best and the brightest, producing cutting edge IP, growing revenue, and building strong industry partnerships.”
SparkCognition’s technology processes data and learns from it and becomes more accurate over time at identifying risks and detecting threats before they become problematic. Its cybersecurity products can identify potential attacks in the Internet of Things environment.