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Elemental Cognition Closes $60M In Connection With Series B Fundraise

Aug 31, 2023almost 2 years ago

Amount Raised

$60 Million

Round Type

series b

New YorkInformation Technology

Description

Elemental Cognition (EC.ai), a provider of breakthrough AI technology, has closed $60M in connection with its Series B fundraise, including participation from Bridgewater Associates, Breyer Capital, AME Cloud Ventures, Staged Ventures, and other individuals. The funding will support the commercial growth of EC.ai’s patented platform, which allows enterprises to reliably solve complex problems and accelerate time to value for deploying AI solutions.

Company Information

Company

Elemental Cognition

Location

230 PARK AVE.

New York, New York, United States

About

Elemental Cognition (EC) provides a revolutionary Generative AI platform with superior natural language understanding that powers expert problem-solving intelligence and research & discovery applications. EC was founded in 2015 by Dr. David Ferrucci, the renowned AI researcher and inventor of IBM’s breakthrough Watson technology. EC AI transparently engages with people to understand, reason, and explain in solving complex problems. EC technology can be used across industries and use cases. Primary targets are Healthcare / Life Science, Investment Management, Intelligence, Logistics & Scheduling, and Contact Centers. Elemental Cognition is committed to developing responsible and transparent AI that helps solve problems and deliver expertise in a way that can be understood and trusted. AI’s potential to perform as a human thought partner requires transparency – the reasons why are just as important as the answers themselves. Differentiated, Breakthrough AI: EC’s approach combines different AI strategies in a novel architecture that acquires and reasons over human-readable knowledge to solve problems collaboratively and dynamically. The result is more transparent and cost-effective delivery of expert problem-solving intelligence into conversational and discovery applications.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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