CHICAGO, June 26, 2017 /PRNewswire/ -- Boeing [NYSE: BA]
announced it is investing in SparkCognition, an Austin, Texas-based company focused on
artificial intelligence and machine learning in the fields of
information technology security and industrial operations. It is
the latest investment by the Boeing HorizonX venture arm
established earlier this year.
SparkCognition has established itself as a machine learning
technology leader, developing a cognitive, data-driven analytics
platform for the safety, security and reliability of data
technology for customers in energy, oil and gas, manufacturing,
finance, aerospace, defense, telecommunications and security.
"SparkCognition is at the forefront of a technological shift in
machine learning and artificial intelligence that will
revolutionize every aspect of industry. They are leaders in AI, and
they are pursuing the types of technologies that are critical to
our future products and services," said Greg Hyslop, Boeing chief technology officer and
senior vice president, Engineering, Test & Technology.
Boeing is joining a group of strategic investors led by Verizon
Ventures as SparkCognition closes its initial $32 million funding round.
"Having industry stalwarts, Verizon and Boeing, support our
existing investors in funding this new round of growth serves as
tremendous validation of our technology and track record. There is
massive demand for our category-leading AI solutions," said
Amir Husain, founder and CEO of
SparkCognition. "The world is well on its way to an AI-powered
revolution — where cognitive systems will truly augment human
capabilities, but at machine speed and big data scale. Our real
world deployments and on-the-ground successes speak to the broad
applicability of SparkCognition's AI technology, and the tremendous
promise of AI in general."
As one aspect of Boeing's plan for investing in future growth,
Boeing HorizonX is leveraging its venture fund making targeted
investments in early stage businesses and startups. Outside of
venture investments, HorizonX is seeking unique business
opportunities and non-traditional partnerships for the company's
aerospace technology using disruptive innovations and business
strategies. Other recent companies in which Boeing HorizonX has
invested include Upskill, a provider of enterprise software for
augmented reality wearables for manufacturing, field service and
logistics, and Zunum Aero, which is pursuing the development of
alternative propulsion aircraft.
SparkCognition is a global leader in cognitive computing
analytics, developing AI-powered asset-protection software for the
safety, security, and reliability of information technology. The
company's technology is capable of harnessing real-time sensor data
and learning from it continuously, allowing for more accurate risk
mitigation and prevention policies to intervene and protect data
systems. In less than three years since launching its first
solution, SparkCognition has acquired dozens of major clients,
including multiple Fortune 100 and Fortune 1,000 organizations. It
was also listed in the 2017 version of CNBC's Disruptor 50 list, an
annual compilation of 50 companies that the financial cable news
network believes are meeting untapped markets and have tremendous
business potential.
Contact:
Chaz Bickers
Boeing Communications
312-544-2002
Jim Schlueter
Boeing Communications
206-356-2990
Follow us on Twitter @Boeing
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SOURCE Boeing