Siren, an investigative intelligence platform to help generate deeper insights, has scored $10m in its Series A round.
Atlantic Bridge led the round, with participation also coming from DVI Equity Partners, Frontline Ventures and Enterprise London.
Capital from the round will be used to support expansion into new markets, consolidating its position in the market and developing its platform.
Siren combines search, business intelligence, big data, link analysis and knowledge representation to improve business insights.
Businesses across the financial services space use Siren to improve operational processes, comply with regulations and improve management capabilities. The real-time analysis can help a business combat fraud, improve investment intelligence and risk management, ease compliance with KYC and AML, and conduct market surveillance.
Siren co-founder and chief product officer Giovanni Tummarello said, “Siren stands at the forefront of augmented analytics, the new wave of analytics in which AI techniques give analysts unprecedented powers of investigation.
“In Siren, techniques like knowledge graph/link analysis, entity resolution, search, natural language processing and predictive analytics seamlessly come together in a single UI. Siren is easy to deploy and leverages data directly on backends such as Elasticsearch, relational databases, virtual data warehouses and graph databases.”
In conjunction of the deal DVI managing partner Bob Griffin will join the Siren board of directors. Griffin is the former CEO of analysis software platform i2, which was acquired by IBM.
The investment comes a year after the FinTech collected $4m in its seed round. Proceeds from the former round were used to expand Siren’s offering and targeting new markets.
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