Siren, an investigative intelligence platform, has raised $10 million in Series A financing. Atlantic Bridge led the round with participation from other investors that included DVI Equity Partners LLC, Frontline Ventures and Enterprise Ireland.
GALWAY, IRELAND, and PHILADELPHIA, US, November 14, 2019 – Siren, the investigative intelligence platform, today announced it has raised $10 million in Series A financing led by Atlantic Bridge. The latest round of investment includes DVI Equity Partners, LLC (DVI), a venture capitalist firm that specializes in areas such as national security, enterprise software, artificial intelligence, and data storage and analysis. Frontline Ventures and Enterprise Ireland, the Irish government agency responsible for the development and growth of Irish enterprises in world markets, also participate in this latest financing. In 2018, Siren raised $4 million in seed funding which has enabled it to expand its offering and target new markets.
Announcing Bob Griffin (former i2 CEO) as Board Member
As part of DVI Equity Partners investment, Bob Griffin joins the Siren Board of Directors. Griffin is a veteran of intelligence and law enforcement software. As CEO of i2 he led the company which was acquired by IBM, becoming IBM i2 – the worlds most deployed intelligence and law enforcement software. He is a member of the Board of Advisors for the Intelligence and National Security Alliance (INSA), a member of the Board of Directors for the National Cyber Forensics and Training Alliance (NCFTA), and a member of Cyber Advisory Board the for the Daily Cypher Brief.
Bob Griffin said: “We believe Siren is a pioneer in a market that is about to explode. We are pleased to support their ongoing success and become part of a journey that will see investigative intelligence technologies shape the future direction of law enforcement, cyber security and financial fraud.”
The Demand for Investigative Intelligence
John Randles, CEO of Siren, said: “The demand for investigative intelligence and large-scale interconnected data analysis is constantly accelerating. Our platform uniquely enables this in real-time at a scale that companies and government organizations require. In this sector it is critical to not only raise funds, but also to have the right wealth of experience. For this reason, we’re delighted to have Bob Griffin join the board.”
Gerry Maguire, General Partner of Atlantic Bridge, said: “The latest round of funding will enable Siren to further develop its proposition and expand into new markets, consolidating its position as an industry leader. Siren is revolutionizing the augmented analytics field, creating unprecedented value especially for organizations with large real-time data.”
Dr. Giovanni Tummarello, Co-Founder and Chief Product Officer, at Siren, said: “Siren stands at the forefront of augmented analytics, the new wave of analytics in which AI techniques give analysts unprecedented powers of investigation. In Siren, techniques like knowledge graph/link analysis, entity resolution, search, natural language processing and predictive analytics seamlessly come together in a single UI. Siren is easy to deploy and leverages data directly on backends such as Elasticsearch, relational databases, virtual data warehouses and graph databases.”
Divisional Manager of ICT and International Services at Enterprise Ireland, Carol Gibbons commented, “Our recently published report which examined the emerging trends within the European Cyber Security market highlighted the degree of opportunity at present for Irish cyber companies to grow their businesses overseas. Enterprise Ireland is pleased to be a part of today’s announcement, and to support ambitious, regionally based companies like Siren by meaningfully investing in their growth.”
Announcing Deep Tech Patented Extensions of the Elasticsearch engine
While Siren is capable of operating on multiple backends, it is the only solution on the market that can conduct real-time big data correlations directly within Elasticsearch clusters, a deep technology for which Siren today announces the filing of several patents. The Siren technology, called “Federate”, can be installed as a plug-in on any Elasticsearch cluster providing API extensions for correlation (join) at scale – a mission critical ability in cybersecurity, operational monitoring, intelligence and more.
Siren provides the leading Investigative Intelligence platform to some of the world’s largest and most complex organizations to derive business value and insight from their data. Developed as a spinout from big data and knowledge representation research, the Siren platform provides a unique combination of search, business intelligence, big data, link analysis and knowledge representation which advances the way organizations address some of the world’s most important data driven problems.
In 2019, Siren was awarded the Technology Innovation of the Year and Enterprise of the Year (SME) at the Information Technology Association of Galway (ITAG) Excellence Awards. The ITAG awards follows Siren being recognized in 2018 as the Technology Innovation of the Year at the Technology Ireland Industry Awards and the Irish Startup of the Year at Ireland’s National Tech Excellence awards. Siren has offices in Galway, Dublin, Bordeaux, Cambridge, Trento Italy and Philadelphia. For more information, visit www.siren.io.
About Atlantic Bridge
Atlantic Bridge is a Global Growth Technology Firm which invests in high growth technology companies and accelerates the scale up of these companies by applying its proprietary Bridge Model into the US, Middle East and Chinese markets. The Firm has €900m assets under management, across 7 funds and has investment teams, offices and extensive networks in Dublin, London, Palo Alto, Munich, Paris and Beijing. Atlantic Bridge focuses on investing in high growth and disruptive sectors and such as Artificial Intelligence, Computer Visioning, Robotics, Machine Learning, Enterprise Software and IoT.
About DVI Equity Partners, LLC
DVI Equity Partners, LLC (DVI) was founded in spring of 2018 with a singular mission of investing in early stage, emerging technology companies specializing in disruptive technology with an emphasis on companies founded and led by women and minorities. The firm evaluates emerging technology companies that create business-to-business (B2B) value in areas including national security, enterprise software, artificial intelligence, and data storage and analysis. Visit dviequitypartners.com for additional information.
About Augmented Analytics
Gartner describes augmented analytics as “the use of ML automation/AI techniques to augment human intelligence and contextual awareness, and to transform data management, analytics and BI as well as many aspects of data science and ML/AI model development and consumption. As digital businesses become inundated with data, augmented analytics becomes crucial for presenting to users across the business only what is important for them in their context to act upon at that moment.”¹ According to Market and Markets research the Augmented Analytics market is expected to grow to $18.4 billion by 2023 from $4.8 billion today.
¹ Gartner: Augmented Analytics Is the Future of Data and Analytics, 31 October 2018 – ID G00375087