Investment will drive further development of Digital Reasoning’s AI technology, financial services product innovation, and expansion into Australia and Asia
NASHVILLE, Tenn., Feb 13 (Bernama-GLOBE NEWSWIRE) -- Digital Reasoning, a leader in Artificial Intelligence (AI) for Language Process Automation (LPA) and Human Behavioral Insights (HBI), today announced a strategic investment from Macquarie Group. Digital Reasoning will also partner with Macquarie to explore innovative new financial services use cases for its award-winning technology and benefit from Macquarie’s global presence to accelerate expansion of its business into Australia and Asia.
Macquarie’s investment is an extension of the Series D-1 $30 million funding round that Digital Reasoning completed in March 2018. As announced previously, the round was led by BNP Paribas with participation from Barclays, Square Capital, Goldman Sachs, Nasdaq, Lemhi Ventures, HCA, and the Partnership Fund for New York City. Digital Reasoning credits the range and depth of its partnerships with leading global enterprises in financial services and healthcare as fundamental to the development and successful application of its technology.
“Digital Reasoning stands out among AI technology businesses due to its proven track record in delivering AI-powered solutions,” said Miki Edelman, Head of Strategic Client Solutions, Cash Equities at Macquarie Group. “We are excited to partner with Digital Reasoning to further develop capital markets use cases and accelerate AI innovations.”
"Leading financial institutions are increasingly relying on Digital Reasoning to understand human behaviors through integrated analysis of text, audio, and structured data. The insights we provide mitigate risk, improve revenues, and increase efficiencies," said Prakash Ramachandran, Chief Financial Officer of Digital Reasoning. "This investment from Macquarie underscores these proficiencies along with our ability to work within regulatory frameworks. We look forward to partnering with them to develop new applications for financial services and support our expansion into Australia and Asia."
Rosenblatt Securities acted as Advisor to Digital Reasoning for this transaction.
Media Contact:
Liz Long | liz.long@digitalreasoning.com | (615) 567-8637
About Digital Reasoning
Digital Reasoning is a global leader in Artificial Intelligence (AI) for Language Process Automation (LPA) and Human Behavioral Insights (HBI). Our award-winning AI platform automates key tasks and uncovers transformative insights across vast amounts of human communications data for many of the world’s leading organizations and government agencies. For more information go to www.digitalreasoning.com and follow on Twitter at @dreasoning.
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie employs over 14,800 people and has assets under management of more than $397.2 billion (as of September 30, 2018). For more information, visit www.macquarie.com.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/88442098-9690-4db0-abab-0ba0adfd4b07
Source: Digital Reasoning Systems, Inc.
--BERNAMA
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