Altada, a Cork, Ireland-based global artificial intelligence (AI) platform solution provider which creates operational efficiencies for clients by leveraging cutting-edge AI to unlock value in data, raised $11.5 million in Series A funding.
The round was led by Rocktop Partners alongside Elkstone Partners and Enterprise Ireland.
This new infusion of capital will support the hiring of over 100 new employees across Altada’s global offices in the areas of quantum computing, engineering, data science, product development, blockchain engineering, and cloud platform management, among others.
Company: Altada Technology Solutions
Raised: $11.5M
Round: Series A
Funding Month: September 2021
Lead Investors: Rocktop Partners
Additional Investors: Elkstone Partners and Enterprise Ireland
Company Website: https://www.altada.com/
Software Category: AI Platform solutions
About the Company: Altada delivers world-class AI solutions that empower your organization to make data-driven decisions. Altada custom-built and trained AI and machine learning models use vast troves of data sets which enable you to not only make sense of your information but gain meaningful market insights that drive your competitive advantage. Altada uses artificial intelligence and machine learning to help clients to manage due diligence and regulatory compliance. The company's platform acquires AI models and uses a multi-thread/parallel processing approach to assist in managing due diligence and regulatory procedures, enabling multi-lateral industries to enforce compliance policies to all unstructured communications.
Source: https://www.finextra.com/pressarticle/89484/altada-scoops-115-million-in-series-a-funding