Toronto-based tech start-up Arteria AI has raised $30 million in a Series B funding round led by GGV Capital.
In brief:
-The round featured participation from the company’s existing investors including Illuminate Financial, Information Venture Partners, BDC Capital and Citi, and takes its total funding to date up to $50 million.
-The company’s AI platform extracts and structures this data from documents to provide useful insights to company stakeholders and help streamline decision-making processes through the real-time flow of data and analytics.
-The company, which has operations in New York and London as well as Toronto, says it will use the fresh cash injection to further develop its technology and accelerate its go-to-market activities.
What does this mean?
“Automation has come in waves to large financial institutions, but little has been done to effectively target documentation,” says Jeff Richards, managing partner of GGV.
