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1 December 2014

Narrative Science adds $10m to story

Narrative Science, which is developing technology to create narratives from data, has increased its total funding to $32m after raising $10m from investors including SAP.

Author: Robert Lavine, news editor, Global Corporate Venturing

US-based narrative technology company Narrative Science secured $10m in series D funding on Friday from investors including Sapphire Ventures, the venture capital firm affiliated with software producer SAP.

A subsidiary of financial services provider USAA led the round in conjunction with USAA signing a software licensing agreement with Narrative Science. VC firms Jump Capital and Battery Ventures also participated.

Founded in 2010, Narrative Science has created artificial intelligence technology that can process raw data and sort it into a narrative. It will invest the cash in further developing its Quill technology, while boosting spending on engineering and sales.

The company has now raised $32m in financing since it was formed from backers also including Northwestern University and In-Q-Tel, the venture fund representing the US intelligence community. Sapphire also invested in its $11.5m series C round in September 2014.

 

Editor's note: this story first appeared on our sister site Global Corporate Venturing.

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