Digital Reasoning, which develops cognitive computing technology, has raised $40 million in Series D funding to accelerate R&D in advanced audio and image analysis, data science and new solutions across enterprise, government and healthcare markets.
The round was led by Lemhi Ventures and Nasdaq, with participation from existing investors Goldman Sachs and HCA. As a part of the deal, Tony Miller, managing partner at Lemhi Ventures, will join Digital Reasoning’s board as a director, while Adena Friedman, President and COO at Nasdaq, will join Digital Reasoning’s board as an observer.
The round was led by Lemhi Ventures and Nasdaq, with participation from existing investors Goldman Sachs and HCA.“This latest funding round accelerates continued innovation by enabling us to implement state-of-the-art Deep Learning technology into all of our offerings, deliver the world’s leading holistic surveillance solution in partnership with Nasdaq, add talented team members to pursue life saving analytics in health care with HCA and others, and drive novel Data Science initiatives at the world’s most valuable companies,” Tim Estes, CEO of Digital Reasoning, said in a statement. “We are very grateful to work with such an amazing team of investors who understand the leadership and differentiation Digital Reasoning offers and are committed to us building the world’s most valuable, independent cognitive computing company.”
Companies like Digital Reasoning have created new tools for knowledge workers and data scientists across key industry sectors that enhance customer outcomes, prevent or reduce criminal behaviors and change the way illnesses are diagnosed and treated.
“By combining Digital Reasoning’s highly innovative and unique e-communications compliance solution with the industry-leading Nasdaq SMARTS Surveillance solution, we are providing compliance officers and supervisors globally with an unparalleled opportunity to make critical connections across employee communications and trading behavior to create a holistic approach to their compliance programs,” added Adena Friedman, President and COO of Nasdaq.