Elemental Cognition Closes $60M in Connection with Series B Fundraise

Error message

Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).

NEW YORK, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Elemental Cognition (EC.ai), a provider of breakthrough AI technology, has closed $60M in connection with its Series B fundraise, including participation from Bridgewater Associates, Breyer Capital, AME Cloud Ventures, Staged Ventures, and other individuals.

Metadata

Provider:

GlobeNewswire, Inc.

Retrieved on:

Thursday, August 31, 2023

Information

Tags:

Cloud, Government, Bridgewater Associates, LLM, AI, Travel, NLU, Research, Education, Jim Breyer

Geotags:

WILTON, CONNECTICUT, US

Organisation:

ELEMENTAL COGNITION

Summary

Key Points:

NEW YORK, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Elemental Cognition (EC.ai), a provider of breakthrough AI technology, has closed $60M in connection with its Series B fundraise, including participation from Bridgewater Associates, Breyer Capital, AME Cloud Ventures, Staged Ventures, and other individuals.
The funding will support the commercial growth of EC.ai’s patented platform, which allows enterprises to reliably solve complex problems and accelerate time to value for deploying AI solutions.
“With our recent round of funding, Elemental Cognition will continue to capitalize on our efforts to bring powerful reasoning and transparency to the market.
Our approach is different from others because we don’t rely on LLMs alone to generate reliable answers.

NEW YORK, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Elemental Cognition (EC.ai), a provider of breakthrough AI technology, has closed $60M in connection with its Series B fundraise, including participation from Bridgewater Associates, Breyer Capital, AME Cloud Ventures, Staged Ventures, and other individuals. The funding will support the commercial growth of EC.ai’s patented platform, which allows enterprises to reliably solve complex problems and accelerate time to value for deploying AI solutions.

“Generative AI is a powerful technology with huge potential, but to reap its real value in the enterprise, it needs to be trustworthy,” explains founder and renowned computer scientist Dr. David Ferrucci. “With our recent round of funding, Elemental Cognition will continue to capitalize on our efforts to bring powerful reasoning and transparency to the market. Our approach is different from others because we don’t rely on LLMs alone to generate reliable answers. We use GenAI for language fluency and we combine that with precise, logical reasoning and reliable problem-solving algorithms to generate and justify trustworthy solutions.”

EC.ai uniquely combines large language models (LLMs) and natural language understanding (NLU) with advanced reasoning to ensure both fluency and correctness. EC’s offerings include innovative solutions for two use case categories: research & discovery and expert assistance. The solutions are targeted for industries where grounded evidence and justified decision-making are paramount, including life sciences, financial services, travel & logistics, higher education, and government.

About Elemental Cognition

Elemental Cognition (EC)’s Generative AI reliably solves your hardest problems by combining Large Language Models (LLMs) with a variety of other AI techniques to ensure accurate solutions to complex, dynamic problems. Our mission at EC is to accelerate and improve critical decision-making where trust, accuracy, and transparency matter.

EC was founded in 2015 by Dr. David Ferrucci, the renowned AI researcher and inventor of IBM’s breakthrough Watson technology, to create the next wave of AI. Visit us at https://www.ec.ai.

Media Contacts
For more information, contact Carly Bourne at The Bulleit Group, [email protected].