Clinc lands record-setting investment for conversational AI: 4 things to know

Clinc, an Ann Arbor, Mich.-based provider of conversational artificial intelligence solutions, has raised $52 million in Series B funding, VentureBeat reports.

Here are four things to know about the announcement.

1. The funding round is reportedly among the largest single investments in any conversational AI startup, and far outweighs Clinc's $6.3 million Series A take in February 2017. The round was led by Insight Partners, DFJ Growth, Drive Capital and Hyde Park Venture Partners, among others.

2. Clinc, which was founded in 2015, reported 300 percent year-over-year revenue growth for 2018 and expects to do the same or better in 2019.

3. The company's conversational AI is currently used in banks, restaurants, healthcare, insurance and the automotive industry. In healthcare, Clinc's technology uses natural language processing, machine learning and deep neural networks to aid with transcription, diagnose conditions from verbal evaluations and improve first responders' accuracy and efficiency.

4. CEO Jason Mars told TechCrunch this funding round could be Clinc's last before making an initial public offering.

More articles about AI:
AI digital therapeutics startup Biofourmis raises $35M in Series B funding
Alegeus unveils AI-powered HSA platform
Study: Google AI outperforms radiologists in diagnosing lung cancer

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months