US-based enterprise AI technology developer Accern completed a $13m series A round yesterday featuring Allianz Life Ventures, a corporate venture capital vehicle for insurance group Allianz.
The round was led by Fusion Fund and included Mighty Capital, Vectr Fintech Partners, Viaduct Ventures and existing individual investors.
Founded in 2016, Accern is the creator of a no-code software development platform that enables users to build artificial intelligence tools in just minutes. It said the series A boosted its overall funding to $14.5m altogether.
Kumesh Aroomoogan, co-founder and chief executive of Accern, said: “Organisations could lose customers, financial gains and their reputations when they are lagging behind on technology innovation.
“Accern enables enterprises to increase efficiency by deploying our AI solutions at scale within our no-code AI platform. This round allows us to further democratise AI within enterprises and serve more customers across asset management, banking and now, insurance and fintech.”
Rostra Capital, VYL, Gurtin Ventures, 26 Ventures, Belmont Capital and Affinity Investment Group had joined undisclosed angel investors to provide $1.2m in seed funding for the company in 2017.
