Enterprise AI software co BlackSwan raises $28m

Black Swan

The Israeli company claims it will disrupt the enterprise software market with its launch of the world’s first enterprise AI operating system.

Israeli enterprise software company BlackSwan Technologies has announced the completion of a $28 million Series A financing round led by Prytek, FinTLV and MS&AD Ventures. The new funding will be used to accelerate growth, continue developing new advanced AI applications and new hires.

BlackSwan claims it will disrupt the enterprise software market with its launch of the world’s first enterprise AI operating system, enabling any company to leverage the most advanced artificial intelligence for operational efficiency and data-driven decision making.

Since it began offering its technology to a limited customer base earlier this year, BlackSwan Technologies has tens of millions of dollars in revenue through multi-year contracts with many businesses. The company has also partnered with Deloitte to provide leading global banks an AI-powered platform that is already proven to increase revenue and drive efficiencies.

BlackSwan Technologies was recently recognized in Gartner’s 2020 Hype Cycle for Emerging Technologies report as a pioneer in "bringing AI closer to human learning and intelligence." The company’s signature Platform as a Service (PaaS), ELEMENT, accomplishes this by combining multiple AI technologies - including machine learning, natural language processing, deep learning, neural network and data operation facilities - into a single

BlackSwan founder and CEO Michael Ouliel said, "We believe this represents a true paradigm shift in enterprise software, eliminating all barriers to digital transformation so that enterprises can easily harness big data and artificial intelligence to generate immediate and actionable business insights. Our aim is to completely disrupt the enterprise software market by finally making the world’s most advanced artificial intelligence available to any company."

Published by Globes, Israel business news - en.globes.co.il - on October 14, 2020

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