US-based artificial intelligence technology developer Node raised $16m in funding yesterday from investors including insurance provider MS&AD Insurance Group and airline operator JetBlue.
Avalon Ventures, New Enterprise Associates (NEA), NewView Capital, Gingerbread Capital, Canaan Partners, Dreamers Fund, Wharton Alumni Fund, Plum Alley and private investors Mark Cuban and James Whittaker participated in the round.
Node has developed a platform dubbed artificial intuition that relies on machine learning to identify aspects of a company’s offering that drive sales, enabling corporation to develop and scale products that will be most useful to their customers and thereby increase revenue.
The company emerged from stealth as a marketing technology developer in 2017 with $16.3m of funding, including $10.8m raised in a series A round backed by social media firm Gree, with commitments from NEA, Canaan, Industry Ventures, Cuban and angel investor Michael Stark.
Node subsequently obtained $5m from a consortium featuring Recruit Strategic Partners, the investment division of human resources firm Recruit, in April 2018. WindrCo, Aragon Capital, Gingerbread Capital, Falmouth Ventures and Open Field Capital also took part in that round.
