Reasoning
Pioneering application service provider (asp) that specializes in software quality and modernization.
| Date | Investors | Amount | Round |
|---|---|---|---|
$15.0m | Series D | ||
| Total Funding | 000k | ||
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Digital Reasoning was an American cognitive computing company founded in 2000 by Tim Estes. Initially backed by investment from his mother, the company focused on providing services to U.S. intelligence agencies. A significant milestone was a 2004 contract with the National Ground Intelligence Center to use its Synthesys software to track enemies in the War in Afghanistan. In 2010, the company received funding from In-Q-Tel, the CIA's venture capital firm, further solidifying its work within the defense sector.
The company later expanded its offerings to the private sector, targeting financial institutions like banks and hedge funds. Its Synthesys platform was adapted to help these clients monitor internal communications to detect compliance risks such as fraud and insider trading. By 2014, Digital Reasoning had secured an additional $24 million in funding from investors including Credit Suisse Asset Management and Goldman Sachs. Over the years, the company appointed new leadership to accelerate growth, including Brett Jackson as CEO in 2017. The business model centered on leveraging its cognitive computing platform to analyze vast amounts of human communications, identifying risks and opportunities for its clients.
Ultimately, after a series of leadership changes, Digital Reasoning was acquired by Smarsh, a financial technology software company, in November 2020. Smarsh has continued to utilize the core compliance intelligence software as part of its portfolio. In a subsequent development, the healthcare division of Digital Reasoning was spun out into a new startup called Azra AI in April 2022.
Keywords: cognitive computing, artificial intelligence, compliance monitoring, risk management, financial technology, data analytics, human communications analysis, intelligence agencies, fraud detection, insider trading, enterprise software, big data analytics, natural language processing, Synthesys platform, government contracts, financial services, RegTech, investment banking, asset management, corporate compliance