We are excited to announce that Forge.AI has raised an $11M Series A financing led by Underscore VC with participation from Accomplice, Boston Seed Capital, Imagination Capital and Project 11 Ventures.
It has been nearly two years since my co-founders Jack Crowley, Jennifer Lum and I embarked on our mission. We believed that advanced, data-driven intelligent machines will play an increasingly important role in every aspect of corporate decision making, and across our society at large. We were also acutely aware that nearly 80 percent of the world’s data is unstructured and cannot be readily used by this increasingly powerful and emergent intelligent infrastructure. This striking imbalance is what we’re hoping to change. Our mission is to globally transform unstructured data so that it can fuel machine intelligence.
It seems like yesterday when it was just the three of us. Word of our quest started to spread and three became five, and then quickly became ten. As we stare down the end of 2018, we are nearly twenty strong. This incredible team has had their heads down building what we believe is a world-class platform that makes unstructured data as easy to process as structured data. While we still have much to do, we could not be more excited about where we are and what the platform enables.
We have been fortunate to engage with, and gain validation from a number of leading financial institutions, including The Vanguard Group, who have become early customers and champions of what Forge.AI is doing and from here we will only accelerate.
As we look ahead, this capital infusion allows us to accelerate the growth of our team, make additional investments in AI research and development, engineering, product management as well as our general go-to-market capabilities.
We plan to not only grow the team with talented, energetic and smart professionals, but we hope to do so while increasing our diversity. Think you can make an impact? Please reach out, you can find out more here.
The new capital also enables us to both harden our platform and accelerate new capabilities. We believe that organizations large and small will plug into Forge.AI so they can leverage unstructured data as fuel for their algorithms – fuel that allows them to better identify risk, make new types of predictions and to see the world in new ways.
On behalf of Jack, Jen and I, we’d like to thank our team, our customers and now our investors who believe in our mission. Each of you gives us energy, provides direct and honest feedback, and you also act as both a tactical and strategic sounding board. We are enabling the world’s intelligent machines to perceive and reason across the world’s unstructured data in real-time, to do more, and to be smarter. And we are just getting started.