SparkCognition announced Tuesday that it has raised $100 million in additional VC funding.
March Capital Partners led the Series C round. To date, the Austin-based startup, founded in 2013, has raised $175 million.
“In a short few years, SparkCognition has proven itself to be one of the leading industrial AI companies in the world,” Sumant Mandal, managing director and co-founder of March Capital Partners, said in a news release.
SparkCognition, an artificial intelligence technology company, makes applications for industries such as oil and gas, defense, utilities, aviation, and financial services. Its customers include The Boeing Company, Hitachi High-Technologies, Aker BP and many others.
SparkCognition’s products include the Darwin for automated model building, DeepArmor for AI-built cybersecurity, SparkPredict, an analytics solution, and DeepLNP, a natural language processing solution.
SparkCognition also recently partnered with Boeing to form SkyGrid, a joint venture focused on delivering unmanned aircraft system traffic management solutions through AI and blockchain technologies.
Other new investors included Temasek, Kerogen Digital Solutions, Hearst Ventures, Dalus Capital, Former CEO and Chairman of the Dow Chemical Company Andrew Liveris, Sustainable Technology Ventures, Blue Horizon eVentures, Paul and Ann-Kristin Achleitner, Founders Equity Partners, Richard and Laetitia Garriott de Cayeux, former Australian Prime Minster and former managing director of Goldman Sachs Australia Malcolm Turnbull.
Existing investors in the found included The Boeing Company, Former CEO and Chairman Emeritus of Cisco and current founder and CEO of JC2 Ventures, John Chambers, Former President of Goldman Sachs John Thornton, MSD Capital, the private investment fund of Michael S. Dell and family, former EVP and Chief Development Officer of Cisco Pankaj Patel and Alameda Ventures.
SparkCognition has also been ranked among the top 10 companies for patent applications on CB Insights AI 100 list.
“It is very rewarding to gain such distinguished investors who see our long-term commitment to building the future and have chosen to join us on this path,” Amir Husain, Founder and Chief Executive Officer at SparkCognition, said in a news release.
Next month, SparkCognition is hosting its annual AI and future tech summit, Time Machine in Austin. Time Machine 2019 brings together leaders from various industries who are building and deploying technology to shape the future.
