MindBridge Analytics secures $8.4M Series A led by Real Ventures

MindBridge Analytics Inc. has closed an $8.4 million Series A round of financing led by Real Ventures and with the participation of Reciprocal Ventures of New York, National Bank of Canada, The Group Investment of Toronto and 8VC of San Francisco.

The new round follows MindBridge’s $4.3 million seed round in June 2017, bringing total funding to $15 million to-date, including non-dilutive funding.

photo credit: MindBridge Analytics

News Release

MindBridge Ai Raises $8.4 Million in Series A Financing – Accelerates Growth with Customers Worldwide

Ottawa, Ontario, May 1, 2018 — MindBridge Analytics Inc. announced today that it has raised $8.4M in its Series A Financing. The round was led by Real Ventures of Montreal and includes participation from Reciprocal Ventures out of New York, National Bank of Canada, The Group Investment from Toronto and 8VC of San Francisco.

Since releasing its flagship Ai Auditor for availability in March 2017, MindBridge Ai has signed over 125 customers in 6 countries and doubled the size of its workforce.

This round follows on the heels of MindBridge Ai closing its Seed Round in June 2017, bringing in a total of $15M in financing to-date, including non-dilutive funding.

“Through discussions with customers, regulatory bodies and the investment community, it is evident that MindBridge’s AI platform is solving real problems across multiple sectors.” says Eli Fathi, CEO “This new round of financing will be deployed to accelerate the scale-up of MindBridge’s operations, further increasing its market leadership position.”

MindBridge offers an extensible AI platform that automates the ingestion and analysis of data and learns from user interaction, incorporating a hybrid of machine learning and artificial intelligence algorithms. A ‘risk score’ is generated across the entire dataset and results are presented through an intuitive user interface that increases effectiveness of the analysis. The MindBridge Ai platform is in use with customers worldwide highlighting insights for users in CPA firms, enterprises, governments and regulators.

MindBridge Ai has taken a broader leading position to promote the role of AI in Canada. On May 24th, MindBridge is hosting the IMPACT AI Conference in Ottawa that will feature senior leaders from public, private and academic organizations who will take the stage to discuss the transformational effect of AI on the economy and society.

For more information about this announcement, please visit the Globe and Mail website here.

About MindBridge Ai:

MindBridge Ai is a venture-backed FinTech company based in Ottawa, Canada. Through the application of machine learning and artificial intelligence technologies, the MindBridge platform detects anomalous patterns of activities, unintentional errors and intentional misstatements. Using the MindBridge Ai-Auditor, organizations across multiple industries can minimize financial loss, reduce corporate liability and can focus on providing higher value services to their clients.

For more information, visit mindbridge.ai

Contact:
Dipalli Bhatt
Email: dipalli@mindbridge.ai

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.