US-based new processing software developer Agolo has received an undisclosed amount from investors including software producer Microsoft’s M12 unit and internet technology provider Google’s Assistant Investment Group, TechCrunch has reported.
Venture capital firm Tensility Venture Partners also contributed to the round, which came after a $3.5m seed round co-led by M12 (then known as Microsoft Ventures) in 2017.
Agolo has created natural language processing software that uses artificial intelligence to rapidly and effectively distil a media article into its most crucial elements. The cash will be used to expand headcount in the company’s sales department.
The 2017 round was co-led by VC firm CRV and included Point72 Ventures and Franklin Templeton. Agolo had previously secured an undisclosed amount of funding from Dentsu Ventures, a corporate venturing subsidiary of digital marketing group Dentsu, in 2015.
