Deals

indico Raises $4M in Funding
Date: 
Thursday, January 18, 2018
Location: 
Boston
Categories: 
B2B
Big Data & Analytics
SaaS
Deal Type: 
Funding

indico, a provider of enterprise machine learning solutions for unstructured content, today announced $4 million in new equity seed funding led by Osage Venture Partners. Existing investors .406 Ventures, Boston Seed, and Hyperplane also participated. indico will use the funds to extend its product capabilities and build out its go-to-market team, resources and programs.

The funding follows a $1.5 million round of convertible debt financing announced in October, and the addition of veteran CEO Tom Wilde in September. 

Artificial intelligence and machine learning offer big opportunities for businesses, but many organizations struggle to find practical business applications for the technology due to limited access to required skillsets, insufficient data and infrastructure, and poorly designed pre-trained offerings. indico eliminates these barriers by enabling enterprises to use much smaller sets of data to create customized machine learning models to solve unstructured content challenges including documents, text, and images. indico customers use its application to automate business processes with AI and to automatically discover insights from within large content collections... READ MORE