BlackSwan Technologies, the Israel-based developer of an artificial intelligence (AI) operating system, emerged from stealth yesterday with $28m from a series A round co-led by insurance group MS&AD.
MS&AD subsidiary MS&AD Ventures co-led the round with technology investor and company builder Prytek and FinTLV, a venture capital fund focused on financial and insurance technology.
Founded in 2016, BlackSwan has created a software platform called Element which helps enterprises create artificial intelligence applications to help improve efficiency and more effectively use data in their businesses.
The funding will be allocated to increase headcount and create new AI applications. The company said it has already received tens of millions of dollars in revenue since launching its product to a limited customer base earlier this year.
Michael Ouliel, founder and CEO of BlackSwan, said: “We believe this represents a true paradigm shift in enterprise software, eliminating all barriers to digital transformation so that enterprises can easily harness big data and artificial intelligence to generate immediate and actionable business insights.
“Our aim is to completely disrupt the enterprise software market by finally making the world’s most advanced artificial intelligence available to any company.”
