|Page (1) of 1 - 12/06/11||email article||print page|
Digital Reasoning Raises Venture Financing for Automated Understanding of Big DataTop Tier Investor to Join Board (December 06, 2011)
NASHVILLE, TN -- (Marketwire) -- 12/06/11 -- Digital Reasoning, a leader in understanding unstructured data at scale, today announced it has raised a Series B round with participation from In-Q-Tel, individual partners of Silver Lake, and other private investors. With this round, Digital Reasoning will add John Brennan to its board of directors. Brennan is a partner at Silver Lake Sumeru.
The investment will be used to accelerate development and expand marketing and sales into new Financial Intelligence, Enterprise Risk Management, and related markets with Synthesys®, the company's flagship product that identifies, summarizes and reveals hidden relationships between people, places and events in big data. Currently, Synthesys is being used in government agencies to uncover security threats and enable intelligence analysts to find and act on critical relationships in big data while containing the costs of and dependence on human reading.
"Organizations in every market are looking for ways to exploit the information and intelligence embedded in unstructured data; Synthesys could be a transformational solution in the enterprise as organizations develop their big data strategies," said John Brennan. "Digital Reasoning's platform can go beyond its success in the government intelligence market to help enterprises quickly analyze big data to detect fraud, uncover market trends, gain better insight into customer behavior, and mitigate risk."
"We are thrilled to have an investment from this caliber of investor and we welcome John to our board. His software and operating experience will help us scale and expand into new markets," said Tim Estes, CEO at Digital Reasoning. "Until now, the tools available on Big Data have been focused on mostly structured data that is well formed and easily countable. Now, we can bring rich understanding of human communication -- unstructured data -- into new markets through a next generation of analytics that scales and runs on technologies like Hadoop."
Synthesys has solved three key impediments to the growth of the Big Data Analytics market:
- Eliminating the need for a data model to aid understanding of text
- Handling diverse data at scale without compromising the depth of understanding
- Inventing a way to automatically understand the meaning of words in context
Digital Reasoning has successfully deployed Synthesys as both enterprise software and cloud-based web service. With success on a number of large systems in the government market, Digital Reasoning will be expanding Synthesys into enterprise commercial markets.
About Digital Reasoning
Digital Reasoning provides Automated Understanding for Big Data. Automated Understanding analyzes unstructured and structured big data to reveal the hidden and potentially valuable relationships between people, place and time. More than a dozen government agencies use Digital Reasoning's flagship product, Synthesys, to uncover security threats and accelerate the time to actionable intelligence. The company is headquartered in Franklin, Tennessee, with an office in Arlington, Virginia. For more information, please visit www.digitalreasoning.com.
Digital Reasoning and Synthesys® are trademarks of Digital Reasoning Systems, Inc.
Red Javelin Communications
Copyright @ Marketwire
Related Keywords: Big Data, text analytics, unstructured data, Marketwire, Inc., , Financial, Silver, Internet Technology, Other,