Clinc ropes in $52m in Series B Funding

Artificial Intelligence News

Clinc-ropes-in-52m-in-Series-B-Funding Clinc ropes in $52m in Series B FundingClinc, an Ann Arbor, Michigan-based conversational AI training platform, as per recent reports this week, has just closed a Series B fundraising round, raising $52 million in investment funding. The funding round was participated by Insight Partners, DFJ Growth, Drive Capital, Hyde Park Venture Partners, and other investors. With this recent funding, the Ann Arbor-based Clinc has to date raised a total capital of $60 million.

“We’ve had phenomenal growth and built unbelievable momentum in a very short period of time,” states Jason Mars, Clinc CEO. “Now we’re adding more world-class investors to support our growing team as we work to accelerate the pace of innovation and to reshape the conversational AI landscape, one industry at a time.”

In his remarks, Mars says that, with this new investment, the company will be hiring new professionals, adding to its team and expanding to new, larger offices in Ann Arbor. Also, in a rhetorical tone, he suggested that the recent funding, which dwarfs Clinc’s earlier Series A funding round that stood at $6.3 million, two years ago, could be the firm’s last financing before it pursues an IPO.

Clinc’s technology, by leveraging natural language processing, advanced machine learning, and neural networks, is able to not just decipher the meaning, but also the context and intent of human speech and thus, is able to respond with an added insight. Moreover, the tech is apt at comprehending the unstructured speech, which enables it to learn and improve itself with every passing interaction.