US-based artificial intelligence(AI)-focused database provider Splice Machine has completed a $16m funding round that included Accenture Ventures, the corporate venturing arm of professional services provider Accenture.
Investment firm GreatPoint Ventures led the round, which also featured private investor Allen Miner, and which increased the company’s overall funding to $58m, it said.
Founded in 2012, Splice Machine has built database software that powers predictive applications in order to help organisations make better decisions on tasks such as fraud detection, marketing or the scheduling of maintenance work.
Accenture has also formed a partnership with Splice Machine that will involve it offering the company’s AI platform to its clients. Proceeds from the round will be used to expand its engineering and global marketing teams.
Paul Daugherty, chief technology and innovation officer for Accenture, said: “The Splice Machine operational AI platform strengthens our ability to deliver on the power of artificial intelligence.
“With Accenture and Splice Machine’s combination of operational, analytical, and intelligent capabilities, we can embed intelligence at the core of our clients’ business to make them more agile and become leaders in the age of new IT.”
Salesforce Ventures, the corporate venturing vehicle for customer relationship management software producer Salesforce, took part in a $9m funding round for Splice Machine in late 2017, investing alongside Correlation Ventures, InterWest Partners and Mohr Davidow Ventures.
Mohr Davidow had already invested $4m in the company in 2012 before joining Correlation Ventures, InterWest Partners and angel investors Roger Sippl and Roger Bamford for its $18m series B round two years later.