AI startup SparkCognition secured $123 Million in Series D funding


SparkCognition, a Texas-based global leader in AI software solutions for business, has now secured $123 million in a Series D funding round.

SparkCognition was founded by Amir Husain. The artificial intelligence startup offers AI solutions that allow organizations to predict future outcomes, prevent cyberattacks and optimize processes.

The company partners with industry leaders to optimize, analyze and learn from data, augment human intelligence, achieve operational excellence and drive profitable growth.

Executive Opinion

Amir Husain, Founder, and CEO of SparkCognition, said, "Our AI solutions address core infrastructure challenges, including asset optimization, preventing zero-day cyber attacks, augmenting skill gaps, and enabling climate change initiatives. This additional capital will enable us to deepen our subject matter expertise, enhance our patent portfolio, and accelerate the diversity of problems we solve for customers, maximizing their return on investment."

Sumant Mandal, Co-Founder and Managing Director at March Capital, said, "SparkCognition has a proven track record of delivering AI at scale, partnering with the world’s industry leaders to drive profitable growth. They are at the front of this AI tsunami—helping businesses address their most critical challenges and enable digital transformation."

SparkCognition's Latest Funding

The round was backed by March Capital, AEI Horizon X, Peter Loscher, B. Riley Venture Capital, Doha Ventures, and Temasek.

By following this round, the company achieved a unicorn valuation of around $1.4 billion, which brings the total capital secured to $300 million.

The company, as of now, has plans to use the new funds to accelerate sales and marketing efforts, amplify development and research investments, and facilitate organic and inorganic growth.
PC: Pixabay

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

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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