US-based data science automation technology provider DotData has received $23m in a series A round backed by IT company NEC Corporation.
Private equity firm Jafco led the round, which also included investment bank Goldmna Sachs.
Spun out of NEC in early 2018, DotData has built a data science automation platform that relies on artificial intelligence to produce actionable insights gained from complex sets of enterprise data.
The cash will allow DotData to accelerate its growth by hiring additional sales and marketing personnel, and by bolstering its product development activities.
DotData previously raised a seed round of undisclosed size in early 2018 and has now received $43m in funding altogether, it revealed in its latest statement. NEC provided seed funding when it spun out the business.
Osamu Fujikawa, senior vice-president of NEC, said. “NEC and DotData have already provided solutions to more than 30 companies in Japan and will continue to promote growth and accelerate digital transformation for customers with the support of Jafco and Goldman Sachs.
“We are excited about our strengthening partnership with DotData and will continue to support its business expansion and vision to empower all enterprises through its data science technology.”
