Primer Technologies, a San Francisco, CA-based AI/ML technology firm specializing in AI-powered data analysis, has announced a Series D funding round with a first close of $69 million to accelerate the delivery of trusted AI solutions for the U.S. Government and commercial customers.
The round was led by Addition, with participation from the U.S. Innovative Technology Fund (USIT), founded by chairman Thomas Tull.
The funding will be used to enable Primer to advance its research and development efforts in generative AI and cutting-edge machine learning models, expand its talent pool, and further develop its product offerings.
The company has also appointed Sean Moriarty as CEO, who brings extensive technology and leadership experience from his previous roles at Leaf Group, Ticketmaster, and Metacloud.
"Primer's AI platform and products deliver necessary tools to those who support and defend our democracy, and this round of funding will help us deliver more, faster," said Sean Moriarty, CEO of Primer. "We're committed to providing trusted, reliable AI solutions to achieve the most critical of missions."
The company's native AI platforms, Primer Delta and Primer Command, leverage the company's proprietary NLP technology, built on transformer-based neural networks. This technology enhances the speed, accuracy, and customization capabilities of Primer's solutions to align with customer data and workflows.
Company: Primer Technologies, Inc.
Raised: $69.0M
Round: Series D
Funding Month: June 2023
Lead Investors: Addition
Additional Investors: U.S. Innovative Technology Fund
Company Website: https://primer.ai/
Software Category: AI-powered Data Analysis
About the Company: Primer Technologies is a company developing artificial intelligence (AI) to analyze collected information and generate written reports. The Primer platform uses machine learning and natural language processing to build systems capable of reading documents, developing insights, and generating automated reports similar to those produced by human analysts. Its AI technology is deployed by the U.S. Government, strategic allies, and Fortune 100 companies to extract timely insight and decision advantage from massive datasets. Primer has already integrated customized Large Language Model functionality into its secure offering, enabling users to extract insights from massive amounts of data and reduce the time to make informed decisions. Primer has offices in Arlington, Virginia, and San Francisco, California.
Source: https://www.prnewswire.com/news-releases/primer-announces-69m-in-funding-to-accelerate-ai-enabled-information-advantage-301850176.html