Switzerland-based data company Squirro has raised $10 million in a Series B round led by Orange Growth Capital with participation from Salesforce Ventures and previous shareholders.
Squirro is a data analytics and insights firm using artificial intelligence, competing against companies like Sinequa and Attivio.
The new funds will be used to boost R&D operations at its Zurich base as well as accelerate expansion in Europe and North America. The company has offices in Munich, Barcelona, London, and New York. Its customers include Wells Fargo, SwissRe, and Helvetia Insurance.
“This financing represents another important step forward in reaching our goal to build Squirro into the market leading enterprise in this space. With these additional resources, we will continue to innovate, grow our geographic footprint and expand our partner ecosystem,” said Dr Dorian Selz, CEO.
“With a focus of applying its artificial intelligence technologies, the company has attracted high quality customers globally that find its data management technology highly relevant to their businesses,” added Radboud Vlaar, partner at Orange Growth Capital.
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