Israeli data science platform for real time machine learning applications Iguazio today announced that it has completed a $24 million financing round. The round was led by INCapital Ventures, with the participation of existing and new investors, including Pitango, Verizon Ventures, Magma Venture Partners, Samsung SDS, Kensington Capital Partners, Plaza Ventures and Silverton Capital Ventures. The funds will be used by Iguazio to accelerate its growth and expand the reach of its data science platform to new global markets.
The Iguazio data science platform helps data scientists create real-time AI applications while working within the familiar machine learning stack. The platform has been deployed by financial services and telcom companies. It is being used in many real-time use cases, such as self-healing networks, ride-hailing optimization, logistics optimization, and real-time recommendations.
Iguazio announced today that digital payment platform Payoneer has deployed the platform to predict and prevent fraud with real-time machine learning.
The Herzliya based company was founded in 2014 by CEO Asaf Somekh, Yaron Haviv, Yaron Segev and Orit Nissan-Messing.
Somekh said, "This is a pivotal time for AI. Our platform helps data scientists push the limits of their real-time AI applications and see their impact in real business environments. With support from INCapital, Kensington Capital Partners, and our other investors, we are ready to expand our international team and reach our ambitious goals."
Pitango Earlystage managing partner Eyal Niv said, "The more artificial intelligence gets into more areas, the greater is the need for a platform that accesses and democratizes it as Iguazu's technology does. Pitango believies in AI for many years, and we have made several early stage investments in companies developing various applications of artificial intelligence. Iguazio offers an easy-to-use solution for a growing market with significant growth potential."
Published by Globes, Israel business news - en.globes.co.il - on January 27, 2020
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