SparkCognition Announces it has Raised $56.5 Million in Funding

Austin-based SparkCognition announced this week it has raised $56.5 million in funding.

The artificial intelligence company previously announced last June that it had closed on a Series B round of funding for $32.5 million. But since then, it landed additional investors that push the round of funding even higher to $56.5 million.

The investors included Verizon Ventures, The Boeing Company, through its Boeing HorizonX unit, CME Ventures, Brevan Howard Investment Holdings Limited, Invenergy Future Fund, and Cisco veterans, former CEO and Executive Chairman, John Chambers, and former EVP and Chief Development Officer, Pankaj Patel and an undisclosed additional investor.

“We are grateful for the many successes to date, but SparkCognition is still in the very early phases of realizing its potential as a transformative company,” Amir Husain, Founder and CEO of SparkCognition, said in a news release. “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 four-year-old company has customers in the energy, oil and gas, manufacturing, finance, aerospace, defense, and security industries.

“SparkCognition is building leading technology that is relevant on a global scale,” John Chambers, CEO of purpose-driven VC firm JC2 Ventures and Chairman Emeritus of Cisco Systems, said in a news release. “I am impressed by the company’s vision to lead the ‘AI 3.0’ revolution and believe SparkCognition’s potential for future growth is astronomical. I am looking forward to working closely with them as a partner and mentor of digital innovation.”

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