Franklin-based tech company Digital Reasoning led the way in a strong year for venture capital in Nashville in 2014, closing on a $24 million round led by big-name backers Goldman Sachs and Credit Suisse.
Nearly six months later, unsurprisingly, the new funding is having the biggest impact on the company’s financial services offerings, according to Rob Metcalf, Digital Reasoning’s president.
The machine learning software company, which develops programs that teach computers how to understand and analyze data and language, initially targeted the government intelligence community with its product. But in recent years the company has expanded its reach to target financial institutions, a move that led to contracts with both Goldman and Credit Suisse, followed by the banks’ big investment.
“We are using that to grow … almost every aspect of our business,” Metcalf said of the capital infusion. “But principally if you think about the transitions that we made over the past couple years really seeing our commercial financial services business grow. Those investors [confer] a tremendous amount of credibility.”
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