Israeli AI analytics company Anodot has secured an additional $15 million for its Series B round which now stands at $23 million. Redline Capital Management led this tranche of funding with participation from Aleph Venture Capital and Disruptive Technologies Venture Capital.
Anodot’s AI analytics products are used by brands to monitor their business intelligence data to identify possible “revenue leak or brand-damaging” incidents.
According to the company, its revenues have tripled over the last 12 months. It clients include Lyft and Microsoft. The new funds will be invested in opening a London office as well as a location in the APAC market.
“We are very excited by this new round of investment and see it as proof that there’s life beyond dashboards, with AI,” said CEO David Drai. “Our rapid growth and the adoption of our technology by so many recognizable brands is a testament to the value of leveraging automated machine learning to create a new type of analytics solution.”