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11 September 2013

Narrative Science captivates SAP and Northwestern University

Robotic report writing service Narrative Science raises $11.5m series C funding from investors including SAP Ventures and Northwestern University.

Author: Quentin Carruthers, editor, Global Government Venturing

Narrative Science, a US-based automated report writing service which combines data analytics with artificial intelligence, has raised $11.5m series C equity funding from new investors,  private investment firm Jump Capital and SAP Ventures, the growth stage investment firm affiliated with Germany-based software company SAP, along with participation from existing investors, venture capital firm Battery Ventures and US-based, private research university Northwestern University.

In June 2013, the company received an undisclosed amount of funding from In-Q-Tel, the technology accelerator of the US government's Central Intelligence Agency (CIA).  Previously, Narrative held a $6m series A round in 2011, backed by Battery Ventures as the sole participant. Regulatory filings showed Narrative raised $3m in 2012 and a further $550,000 in April 2013.

Narrative Science will use the new funding to increase its investment in Quill, the company's patented automated authoring platform, and continue to build out its sales and marketing organization.

Jai Das, managing director of SAP Ventures, said: "SAP Ventures focuses on companies that are next generation pioneers in Big Data. Narrative Science's technology platform is truly innovative and represents a logical marriage between data analytics and natural language generation.”

Sach Chitnis, managing director of Jump Capital, said: "We are impressed with Narrative Science's approach to addressing the problem of data overload and are pleased that the company's solutions have already gained traction in both government and commercial markets.”

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