https://techcrunch.com/2022/05/02/accern-lands-20m-for-ai-that-analyzes-financial-documents-on-the-web/

Accern, which uses AI to analyze online conversations around particular companies, trends, and industries, today announced that it raised $20 million in a Series B round led by Mighty Capital alongside Tribe Capital, Shasta Ventures, Gaingels and Fusion Fund and others. CEO Kumesh Aroomoogan says that the new capital will be put toward “product-led growth,” expansion into new markets, and R&D on Accern’s AI technologies.

“More than 80% of the world’s data is unstructured. Unstructured data requires a hyper-manual process to structure data at scale, consuming expensive data science resources throughout an organization,” Aroomoogan told TechCrunch via email. “Due to the extreme human capital and time costs, unstructured data isn’t efficiently analyzed and is often left out of historical data decisions. The end result affects all organizations’ decision-making capabilities and adds additional risk to their respective portfolios and balance sheets.”