SparkCognition

SparkCognition

An artificial intelligence and cybersecurity company offering cognitive computing analytics for the information technology, operational technology, and the internet of things (IoT) industries.

SparkCognition is an artificial intelligence and cybersecurity company offering cognitive computing analytics for the information technology, operational technology, and the internet of things (IoT) industries that is headquartered in Austin, Texas and was founded in 2013 by Amir Husain.

Funding

Series A

On April 26, 2016 SparkCognition announced raising $6 million in series A funding from Verizon Ventures (lead investor), CME Ventures (lead investor), The Entrepreneurs' Fund, and Alameda Ventures. The company plans on using their series A funding to improve their machine learning technology for predicting when a company's computer systems may get hacked or fail.

Series B

On June 26, 2017 SparkCognition announced raising $32.5 million series B funding from Verizon Ventures (lead investor) and Boeing HorizonX Ventures.

Grant

On December 20, 2017 SparkCognition announced receiving a grant worth $706.7 thousand from the US Department of Energy (DOE). The grant was issued for SparkCognition to improve the efficiency and reliability of coal fired power plants by deploying artificial intelligence solutions. The Senior Director of Business Development for Customer Success & Partnerships at SparkCognition, Stuart Gillen, made the following comments about the company's grant from the DOE:

SparkCognition's rapid growth is allowing the company to explore new areas of business where our AI-focused solutions can be implemented. We are proud to receive DOE funding to work on enhancing our nation's existing power generation infrastructure, and improve how coal-fired power plants operate.

Series B II

On February 20, 2018 SparkCognition announced raising an additional $24 million in series B funding from Verizon Ventures (lead investor), The Boeing Company, Energize Ventures, CME Ventures, Breven Howard Investment Holdings, Pankaj Patel, and John Chambers. The company plans on using the funding to improve its products for customers in several industries which include: energy, oil and gas, manufacturing, finance, aerospace, defense, and security.

Series C

On October 8, 2019 SparkCognition announced raising $625 million in series C funding from March Capital Partners (lead investor), Sustainable Technology Ventures, MSD Capital, Kerogen Digital Solutions, Richard Garriott, Paul Achleitner, Pankaj Patel, Malcolm Turnbull, and Laetitia Garriott de Cayeux. The company plans on using their series C funding to expand it's business operations and customer base.

Timeline

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
SparkCognition funding round, October 2019
Series C round
100,000,000
October 2019
March Capital Partners
SparkCognition funding round, February 2018
Series B round
56,500,000
February 2018
Verizon Ventures
SparkCognition funding round, June 2017
Series B round
32,500,000
June 2017
Verizon Ventures
SparkCognition Series A
Series A round
6,000,000
April 26, 2016
Verizon Ventures
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News

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Date
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Brent Wistrom
May 26, 2020
AmericanInno
Austin's SparkCognition, an AI company focused on industrial and security solutions, spun out a new company called SparkCognition Government Systems.

References

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