NASHVILLE, TN, February 13, 2019 – Digital Reasoning, a leader in Artificial Intelligence (AI) for Language Process Automation (LPA) and Human Behavioral Insights (HBI), today announced a strategic investment from Macquarie Group. Digital Reasoning will also partner with Macquarie to explore innovative new financial services use cases for its award-winning technology and benefit from Macquarie’s global presence to accelerate expansion of its business into Australia and Asia.
– Miki Edelman, Macquarie Group
Macquarie’s investment is an extension of the Series D-1 $30 million funding round that Digital Reasoning completed in March 2018. As announced previously, the round was led by BNP Paribas with participation from Barclays, Square Capital, Goldman Sachs, Nasdaq, Lemhi Ventures, HCA, and the Partnership Fund for New York City. Digital Reasoning credits the range and depth of its partnerships with leading global enterprises in financial services and healthcare as fundamental to the development and successful application of its technology.
“Digital Reasoning stands out among AI technology businesses due to its proven track record in delivering AI-powered solutions,” said Miki Edelman, Head of Strategic Client Solutions, Cash Equities at Macquarie Group. “We are excited to partner with Digital Reasoning to further develop capital markets use cases and accelerate AI innovations.”
“Leading financial institutions are increasingly relying on Digital Reasoning to understand human behaviors through integrated analysis of text, audio, and structured data. The insights we provide mitigate risk, improve revenues, and increase efficiencies, said Prakash Ramachandran, Chief Financial Officer of Digital Reasoning. “This investment from Macquarie underscores these proficiencies along with our ability to work within regulatory frameworks. We look forward to partnering with them to develop new applications for financial services and support our expansion into Australia and Asia.”
Rosenblatt Securities acted as Advisor to Digital Reasoning for this transaction.