• Dec. 8, 2016, 9:56 pm

Digital Reasoning Raises $40 Million in Series D Round led by Lemhi Ventures and Nasdaq, Makes Key Board Appointments

Cognitive computing company Digital Reasoning has raised $40 million in Series D funding led by Lemhi Ventures and Nasdaq. Existing investors Goldman Sachs and HCA also participated.

Lemhi managing partner Tony Miller becomes joins the Digital Reasoning board as a director while Nasdaq president and COO Adena Friedman becomes an observer.

“Digital Reasoning has built an unmatched track record of helping our customers solve their most challenging problems across industries with a leading enterprise cognitive computing platform and intelligent assistants for key customer use cases,” CEO Tim Estes said. “This latest funding round accelerates continued innovation by enabling us to implement state-of-the-art Deep Learning technology into all of our offerings, deliver the world’s leading holistic surveillance solution in partnership with Nasdaq, add talented team members to pursue life saving analytics in health care with HCA and others, and drive novel Data Science initiatives at the world’s most valuable companies.”

Mr. Miller is impressed by Digital Reasoning’s advancements in the medical sectors.

“Digital Reasoning is helping health care professionals deliver better patient outcomes and achieve greater operational efficiencies by uncovering insights that were previously concealed within Electronic Health Records (EHRs) and other health care datasets. We recognize just how disruptive Digital Reasoning’s cognitive computing approach is, and are confident they have the right team to truly help providers, payers, and patients fundamentally make better informed decisions in less time.”

Ms. Friedman said Digital Reasoning has also produced in compliance.

“Nasdaq is expanding Digital Reasoning’s access to the capital market ecosystem by becoming their exclusive commercial partner for surveillance, compliance and supervision technology. By combining Digital Reasoning’s highly innovative and unique e-communications compliance solution with the industry-leading Nasdaq SMARTS Surveillance solution, we are providing compliance officers and supervisors globally with an unparalleled opportunity to make critical connections across employee communications and trading behavior to create a holistic approach to their compliance programs.”

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