DreamQuark to increase European growth after new funding

DreamQuark, an AI application developer for the insurance and banking industry, has closed a funding round which will enhance its European growth.

Equity is also earmarked for developing its technology and increasing the number of integrations with business solutions.

This funding was supplied by NewAlpha Asset Management and Keen Venture Partners, as well as previous backer CapHorn.

Brain is the companies AI software platform which can be adapted to meet a client’s needs. It automates data science tasks and simplifies predictive models’ industrialization to help organizations generate new sales opportunities and better engage with customers.

On the back of the round, the company is looking to release a new product recommendation feature for wealth managers, insurance and bank companies. It is also looking to deepen its ethical approach to AI by implementing functions that boost trust and control within models.

DreamQuark CEO and founder Nicolas Méric said, “In the current difficult economic conditions for the industry, DreamQuark will support its customers in generating new revenues. This funding round will help accelerate our sustainable commercial development across Europe through direct sales and partnerships and continue to satisfy our existing customers.”

In 2017, France-based DreamQuark raised a €3m funding round from CapHorn and Plug & Play.

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