Accern secured $13 Million in Series A Funding round led by Fusion Fund


Accern, a New York City-based Artificial Intelligence startup for the financial industry, has now secured a $13 million in Series A funding round.

Accern is founded by the Kumesh Aroomoogan and Anshul Vikram Pandey.  Accern offers a no-code AI platform. The platform allows users in the financial service industry to build workflow automation and risk management solutions for investment research, financial crimes, credit lending, and reputational risks, among others. The company has raised $14.5 Million to date.

Company's client base includes Microsoft, Google, IBM, Allianz, and others.

Executive Opinion

Kumesh Aroomoogan, Accern, CEO, said, "Organizations could lose customers, financial gains and their reputations when they are lagging behind on technology innovation. Accern enables enterprises to increase efficiency by deploying our AI solutions at scale within our no-code AI platform. This round allows us to further democratize AI within enterprises and serve more customers across asset management, banking, and now, insurance and fintech."

Anshul Vikram Pandey, Accern, CTO, said, "Every organization wants to use the immense volume of unstructured data that they have on hand for competitive advantage. Data scientists and R&D leaders are charged with helping their organizations make this happen, but they cannot waste time recreating the same basic code over-and-over again. Accern’s no-code user interface (UI) creates AI solutions with a few clicks, enabling data scientists to rapidly create models and turn them into actionable solutions for the enterprise. Our adaptive NLP and forecasting models are able to learn from past actions and provide intelligent recommendations going forward, which is very useful for credit and insurance underwriting, portfolio risk, fraud detection, and more. Now teams are able to share their works, integrations, models, taxonomies, and more across the enterprise to be leveraged in other use cases, significantly reducing the amount of re-work, and therefore time, that goes into every solution."

Accern's Latest Funding

The funding round was backed by the Fusion Fund with participation from Allianz Life Ventures, Mighty Capital, Viaduct Ventures, Vectr Fintech Partners, and some other existing angel investors.

The company, as of now, has plans to use the new funds to expand its customer base and further develop its platform.
PC: Pablo, Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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