RealityEngines.AI rebrands to Abacus.AI alongside funding round

RealityEngines.AI has rebranded to Abacus.AI, alongside the close of a $13m Series A round.

The investment was led by Index Ventures, with support also coming from Eric Schmidt, Ram Shriram, Decibel Ventures, and Jerry Yang. As part of the deal, Mike Volpi and Ram Shriram have joined the Abacus.AI board of directors.

Capital from the round will be used to scale the services, reach more customers and increase the size of its research team. This investment brings the company’s total funding to $18.25m.

In addition to all of this, the company is also making its autonomous AI service available to everyone. The new service will enable developers and data scientists to share and compare deep learning models and metrics, allowing businesses and enterprises to build real-time deep learning systems.

Abacus.AI helps organisations plug and play deep learning systems into their existing infrastructure. Clients can create large-scale, real-time customisable deep learning systems, which offer accurate predictions that can be used to improve customer experience.

It’s solutions include AI for IT operations, fraud and security, forecasting and planning, marketing and sales AI, and more.

Index Ventures partner Mike Volpi said, “We are excited to announce our Series A investment in Abacus.AI. As we’ve spent the last few months working with them, we are even more convinced that their vision of democratizing AI is spot on, and that they are going after a massive opportunity.”

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