AI Company Digital Reasoning Raises $30 Million Led by BNP Paribas
March 19 2018 - 10:14PM
Dow Jones News
By Josh Beckerman
Digital Reasoning Systems Inc., an artificial intelligence
company that has helped Nasdaq Inc. track potential rogue traders,
has raised $30 million of financing led by BNP Paribas SA.
The financing will help the company expand its products for
capital markets and wealth management and work on technology in
areas including speech analytics.
-- Spy Software Gets a Second Life on Wall Street (Aug. 2, 2015)
Barclays PLC and Square Capital participated in the financing,
as did previous investors Goldman Sachs Group Inc., Nasdaq, Lemhi
Ventures, HCA Healthcare Inc. and the Partnership Fund for New York
City.
Angel Rodriguez-Issa, who is global head of strategic
investments, global markets at BNP Paribas, has joined Digital
Reasoning's board.
In 2016, Nasdaq and Digital Reasoning announced an alliance to
provide surveillance technology for capital markets, including
buy-side, brokers, regulators and exchanges. Lemhi and Nasdaq led a
$40 million Series D round for Digital Reasoning in 2016.
When the partnership was announced, Nasdaq and Digital Reasoning
said a "holistic surveillance" effort comparing the comments and
trading activity of traders was intended to improve upon existing
technology at the time. For example, keyword searches didn't
account for the context of a word like "tank."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
March 19, 2018 21:59 ET (01:59 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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