AI is the industry that keeps on giving—at least in Canada.
Ottawa’s MindBridge Analytics has announced that they have raised an $8.4 million Series A funding round. The round was led by Real Ventures and includes participation from Reciprocal Ventures, National bank of Canada, The Group Investment and 8VC.
MindBridge’s flagship product is the AI Auditor, an advanced audit analytics tool that can help with planning, testing and reporting needs. The platform is intuitive and does not require specialists to operate and can integrate with accounting software like Quickbooks. Take a look at the tool below.
Since launching the Ai Auditor, MindBridge AI has signed over 125 customers in six countries and doubled its total employee base.
“Through discussions with customers, regulatory bodies and the investment community, it is evident that MindBridge’s AI platform is solving real problems across multiple sectors,” said Eli Fathi, MindBridge AI’s CEO “This new round of financing will be deployed to accelerate the scale-up of MindBridge’s operations, further increasing its market leadership position.”
MindBridge automates the ingestion and analysis of data and learns from user interactions, incorporating AI and machine learning algorithms. After all of the data is analyzed, a risk score is generated that provides further insight into the accumulated data sets.
The AI company raised a $4.3 million seed round less than a year ago, which was also led by Real Ventures. MindBridge was also named as one of Canada’s most innovative companies last year as they were included in the CIX Top 20.