Saffron Technology Raises $7 Million in Series B Funding
Additional Funding Will Allow Stronger Brand Presence, New HQ in Silicon Valley, and the Expansion of Customer-Centric Next Generation Service Teams
CARY, NC, March 20, 2014-- Saffron Technology, a cognitive systems company helping Fortune1000 businesses understand the value of transforming disconnected data into actionable knowledge, today announced that it has closed a $7 million Series B investment round. Funds are earmarked to accelerate business growth, including opening new global headquarters in Silicon Valley.
"Data becomes infinitely more powerful when you tie together its meaning from a multiplicity of disparate sources. Our patented Natural Intelligence Platform unifies all kinds of data -- structured and unstructured -- in real time, from a large variety of sources and continuously learns about the things in the data without the need for pre-determined rules or models," said Gayle Sheppard, Saffron Technology CEO. "Now you can automatically see converging and other patterns to anticipate outcomes and prepare to act. These capabilities, combined with our customers' success with Saffron, position us well for growth. With this additional funding, we will expand customer-centric next generation service teams, build a strong brand presence, create scalability across our business, and establish a Silicon Valley headquarters in spring 2014."
In development since 1999, Saffron Technology's patented associative memory finds connections among data across diverse sources, without the need for rules or modeling, while learning incrementally and anticipating outcomes based on patterns it finds in the data. Saffron Natural Intelligence helps clients rapidly inform decisions and reduce unnecessary risk and waste, making it ideal for real-time operational risk intelligence and decision support; for industries including manufacturing, retail, defense, and healthcare. In a data-driven environment, Saffron helps enterprises make more informed decisions, resulting in increases in productivity and reductions in costs.
About Saffron Technology
Saffron Technology combines the power of computing platforms with natural intelligence to help Fortune1000 businesses, non-government and government organizations analyze risk, predict future outcomes and make better decisions. Like the human brain, Saffron's Natural Intelligence Platform unifies hybrid data and associates new data inputs with what exists, identifying converging and repeating patterns and learning continuously in the process. But unlike the human brain, Saffron is not limited in size and can process tremendous amounts of data, including prior data inputs, to better anticipate trends and identify anomalies. Founded in 1999, Saffron Technology is currently headquartered in Cary, North Carolina. For more information, please visit www.saffrontech.com.
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