The investment from the innovation, ventures and fintech investments unit of Standard Chartered Bank will enable the AI company to expand its financial services product offerings and support growth in markets across Asia, the Middle East, and Africa.
SC Ventures has made a strategic investment in artificial intelligence (AI) services platform Digital Reasoning, bringing its series D-1 funding round total to $40 million, the two firms announced in a joint press statement on Wednesday.
«Through the partnership, we believe we can accelerate our solutions’ applicability across Asia, the Middle East, and Africa. Together we will further democratize using AI to understand the languages in markets where these new solutions can be used for good,» said Tim Estes, founder and president of Digital Reasoning, said about the investment.
Machine Learning for Financial Services
Digital Reasoning's machine learning platform is used in the healthcare and financial services industry to automate key tasks and uncover transformative insights across human communications.
As part of the strategic partnership, the firm will work with Standard Chartered Bank to expand its financial services product offerings in communications surveillance across Asia Pacific, the Middle East, and other international markets, the statement said.
The firm's series D-1 funding round has already seen participation by BNP Paribas, with participation from Barclays, Square Capital, Goldman Sachs, Nasdaq, Lemhi Ventures, HCA, the Partnership Fund for New York City and Macquarie.
