6 years ago

Eigen Technologies Raises $37 Million for Document Analysis AI

  • Eigen Technologies, a London-based startup that uses machine learning and natural language processing to analyze large documents, has raised $37 million in Series B funding

  • The round was led by Lakestar and Dawn Capital, with participation from Temasek and Goldman Sachs Growth Equity

  • Eigen Technologies focuses on "small data", using only a couple of examples to teach an AI to analyze specific documents

  • The company works with banks and other businesses, including 25% of the world's G-SIB institutions, to extract information from contracts and other important documents

  • Eigen Technologies' approach eliminates the need for anonymizing sensitive data, ensuring that data remains with the company.

      • ProblemFinancial Services

      "Banks and other financial institutions have a lot of documents - like loan contracts, financial reports, and legal agreements - that they need to read and understand to make decisions. These documents are often unstructured, inconsistent, and full of complex language. It's hard and time-consuming for humans to read them all, so it's difficult for these companies to get the information they need quickly."

      Solution

      "Eigen has built a software platform that uses AI and machine learning to help companies understand these documents. The software can read and analyze complex documents, finding the important information and extracting key insights. This allows businesses to save time and money, and make better decisions based on the information they have."

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