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Alegion and Synthetik Applied Technologies top Austin's recent funding news

Austin-based crowdsourcing company Alegion has secured $12 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced July 14 and financed by RHS Investments.

According to its Crunchbase profile, "Alegion is a technology company that integrates human and machine intelligence to deliver high-accuracy data labeling for machine learning model training, validation and exception handling. The Alegion platform delivers data solutions spanning the model development lifecycle to help Fortune 500 companies across retail, finance, technology, automotive, defense, agriculture and healthcare industries accelerate their AI and ML initiatives and increase model confidence. Alegion employs over 75 people between its headquarters in Austin, TX, and Kuala Lumpur, Malaysia."

The eight-year-old company has raised two previous funding rounds, including a $3.6 million Series A round in 2017.

The round brings total funding raised by Austin companies in data and analytics over the past month to $22 million. The local data and analytics industry has produced 52 funding rounds over the past year, securing a total of $405 million in venture funding.

In other local funding news, consulting company Synthetik Applied Technologies announced a grant on July 9, financed by Microsoft.

According to Crunchbase, "Service Areas: 01 Artificial Intelligence. Synthetik is uniquely skilled and experienced in the development, training and effective implementation of AI applications. We work with commercial clients and U.S. government agencies to provide computer vision and machine learning expertise, including large-scale synthetic data generation."

Founded in 2017, the company has raised four previous rounds, including a $149,937 grant earlier this year.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.