AYLIEN closes significant growth-led financing round with SOSV and Enterprise Ireland
Dublin, March 7th 2016. AYLIEN, a leader in the Text and Content Analysis space today announced that it has secured further financing from Cork, Ireland-based venture capital firm SOSV and Enterprise Ireland. Having previously secured an initial round of funding with SOSV in 2011 and following some significant growth, AYLIEN will now receive €580,000 ($630,000 USD) in a growth round financing deal, led by SOSV, with Enterprise Ireland’s involvement coming as part of the HPSU (High Potential Start-Up) program which was developed to help Irish startups grow internationally.
The funds will be invested in furthering AYLIEN’s international reach, research and development, new product offerings and the further expansion of its team of 12 in its Dublin headquarters, with plans to grow to 20 by the end of 2016.
AYLIEN competes in a high-tech, research-led and niche data analytics market set to grow to over $19BN in the next 4 years. Their Text Analysis solutions make it easy for developers and data scientists to make sense of massive amounts of textual data. Boasting a 10,000+ user base across the world, with customers like Sony and The World Economic Forum as customers, AYLIEN is embarking on an exciting expansion phase.
Speaking about the financing round, Parsa Ghaffari, CEO and Founder of AYLIEN spoke of the delight in continuing the relationship with SOSV and getting Enterprise Ireland on board. “We’re delighted to continue our growth as a pioneer in the Natural Language Processing space together with SOSV, who are by far the most forward-thinking VC firm in Ireland. It’s also fantastic to have the backing of Enterprise Ireland, who have done a great job to promote and foster entrepreneurship in Ireland. We will use these newly raised funds to expand our reach in the market, and to accelerate our growth. We have lots of new, exciting things coming up, so stay tuned for more!”
Bill Liao, Partner at SOSV and Co-founder at CoderDojo: “The more that machines can understand both human natural language and natural unstructured data the more use they can be in distilling critical and valuable information from the digital noise that is our modern lives. Aylien’s team and technology are world leading and SOSV is delighted to fund this already global player in the analytics space.”
Cyril Ebersweiler, Partner at SOSV states that; “AYLIEN is now seeing the fruits of its hard work pay off. After building one of the most impressive machine learning engine for the semantic world, the company is set to become the de facto tool for companies willing to take advantage of this new technology.”
Enterprise Ireland Executive Director for Global Business Development, Kevin Sherry said; “A key role of Enterprise Ireland is to help companies to start-up and scale internationally. We are delighted that Aylien, which is one of our internationally mobile High Potential Start Up companies, chose Ireland to base their company. The funding by Enterprise Ireland and SOSV will support their international growth aspirations in the innovative content analysis space and we look forward to continuing to work with the team as they accelerate their growth”.
AYLIEN is an Artificial Intelligence company based in Dublin, Ireland. Their core offering is a Text and Image Analysis API that allows developers and data scientists to extract insight from unstructured content.
A press kit is available for download here.
Parsa Ghaffari, CEO
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