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27 November 2014

AI developer Kensho raises $15m

The Google-backed artificial intelligence technology company, co-founded by MIT and Harvard, has raised $15m in a round led by Goldman Sachs, which has become its largest investor.

Author: Thierry Heles, reporter

Kensho, a US-based developer of artificial intelligence (AI) technology that is backed by internet company Google, secured $15m on Monday in a series A round led by investment bank Goldman Sachs.

Goldman Sachs is now the largest single investor in the company, which was co-founded last year by Harvard University and Massachusetts Institute of Technology and will implement the technology in its own firm as part of a strategic partnership.

Kensho has developed an AI assistant dubbed Warren. The software is able to provide statistical and analytical computing in real time, providing investors with instantaneous answers to complex financial questions asked in plain English.

The company raised $10m in a seed round in January 2014 from backers including Google Ventures, Google’s corporate venturing unit, Devonshire Investors, which acts as the venture capital arm of financial services corporation Fidelity Investments, and VC firms New Enterprise Associates, Accel Partners and General Catalyst Partners.

According to a regulatory filing, the company also raised almost $500,000 of debt financing in January 2014.

Daniel Nadler, chief executive of Kensho, said: “We are proud to partner with Goldman Sachs around the vision that real-time statistical computing systems and scalable analytics architectures represent the next-generation of improvements to the global financial system.”


Article originally published by our sister site Global Corporate Venturing.

Copyright Mawsonia Limited 2010. Please don´t cut articles from www.globaluniversityventuring.com or the PDF and redistribute by email or post to the web without written permission.

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