Intel Capital, the corporate venture capital arm of semiconductor and data technology producer Intel, has led a $35m series C round for US-based business-monitoring software provider Anodot.
The round also featured telecommunications and internet group SoftBank and consumer electronics manufacturer Samsung, which participated through SoftBank Ventures Asia and Samsung Next respectively.
Investor syndicate La Maison and VC funds Disruptive, Redline Capital Management and Aleph also contributed to the round. Intel Capital investment director Roi Bar-Kat is joining the company’s board of directors in conjunction with the unit’s investment.
Anodot has created a software platform that utilises machine learning to monitor every aspect of a corporate client’s organisation in real time in order to understand how various aspects of their business affect each other.
The series C proceeds will go to increasing headcount at the company as it looks to enter new sectors including banking and financial services.
Anthony Lin, senior managing director at Intel Capital, said: “We strongly believe Anodot, with its machine learning-based monitoring solution, is in the position to help organisations save and optimise business costs. Intel Capital has been following Anodot closely and we are excited to see the continued progress of its platform.
“Changing market dynamics are going to force companies to become more efficient, and Anodot’s proven [return-on-investment] model and impressive traction across its enterprise customer base is a game changer.”
The round increased Anodot’s funding to $62.5m since it was founded in 2014. It came after the company closed a $23m series B in 2017 featuring Redline Capital Management, Aleph and Disruptive.
Anodot had emerged from stealth in 2015 with a $3m series A round led by Disruptive it said boosted its total funding to $4.5m.
