Accern, a U.S.-based artificial Intelligence (AI) start-up, announced on Thursday it secured $13 million through its Series A funding round, which was led by Fusion Fund with participation from Mighty Capital, Allianz Life Ventures, Vectr Fintech Partners and Viaduct Ventures.
Founded in 2014, Accern explained that its AI Platform contains ready-made solutions for the financial service industry across asset management, banking, and insurance.
“Accern allows enterprises to build powerful workflow automation and risk management solutions for investment research, credit lending, financial crimes (KYC) and reputational risks, among others.”
Speaking about the investment round, Kumesh Aroomoogan, Co-Founder of Accern, stated:
“Organizations could lose customers, financial gains and their reputations when they are lagging behind on technology innovation. Accern enables enterprises to increase efficiency by deploying our AI solutions at scale within our no-code AI platform. This round allows us to further democratize AI within enterprises and serve more customers across asset management, banking and now, insurance and fintech.”
Lu Zhang, of Fusion Fund, and a member of Accern’s Board, added:
“Fusion Fund is excited to join the Accern team. There is a great potential of applying the AI technology to improve the efficiency in the finance industry and discover the true value of the data. Accern has one of the best products and teams in the industry for this endeavor. We are excited to help accelerate the company for its next stage of partnership and market expansion.”