MondoBrain, which provides enterprise augmented intelligence to support business decisions, has collected $13.3m in its Series A round.
The capital injection was led by France-based investment firm Japia, with participation also coming from Finamar and Goldman Sachs.
Founded in 2014, the company provides an enterprise augmented intelligence solution which combines human and collective intelligence to help improve business operations. The AI-powered solution is used in a number of industries including financial services, manufacturing, healthcare and consumer goods and services.
Financial services use the technology for improved data analysis, so it can enhance portfolios and trading strategies, monitor risk and compliance and detect fraud attempts. The solution can automatically detect fraudulent trading transactions, prevent money-laundering and identify risky customers.
Insurance companies also utilise the platform in order to manage risk exposure and anticipate portfolio deviations, as well as to improve conversions of clients.
Funds from the round will be put towards expanding the international sales and marketing efforts of MondoBrain, as well as accelerating product development.
MondoBrain founder and CEO Augustin Huret said, “The rapid development of Artificial Intelligence legitimately generates anxiety and fears, however MondoBrain proposes a new approach where AI serves professionals and help them make better decisions and execute them will full collective consensus”
“Our solution provides Prescriptive Analytics that welcomes users’ experience and intuitions, thus empowering them to always make the best possible decisions, with full traceability and transparency. In environments where complexity is growing exponentially, MondoBrain brings simplicity and facilitates team work and action.”
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