Tech News Summary:
- Primer Technologies has secured $69 million in a series D funding round to accelerate the delivery of AI solutions for US government and commercial customers. The funding will aid Primer in its research and development of generative AI and machine learning models while growing its team and maturing its product offering.
- Sean Moriarty, a veteran in B2B and B2C technology businesses, has been appointed as Primer’s new CEO. He brings several decades of technology and leadership experience to the table.
- Primer is developing cutting-edge decision support technology for military organizations and offers solutions to Fortune 100 companies. Its recent launch of First Delta platform enables analysts to securely search through large-scale databases and document caches to extract the information that matters.
Primer, a leading provider of AI-powered information advantage, announced today that it has secured $69 million in funding in a new funding round. The round was led by Accel, with participation from existing investors Mubadala Investment Company, Lux Capital, and DCVC, as well as new investors Amplo and In-Q-Tel.
The new funding will enable Primer to accelerate its growth and invest in key areas, including product development, talent acquisition, and market expansion. With this funding, Primer will continue to build on its advanced natural language processing (NLP) and machine learning capabilities, which help organizations extract insights from vast amounts of unstructured data, such as text, images, and video.
“We’re thrilled to have the support of Accel and our existing investors in this latest funding round,” said Sean Gourley, Founder and CEO of Primer. “At Primer, we’re committed to helping organizations unlock the power of unstructured data with AI. This funding will enable us to continue our mission and drive even more value for our customers.”
Primer’s technology is already being used by leading organizations across industries, including financial services, government, and media. With this new funding, Primer plans to further expand its offerings and address additional use cases.
“Primer’s ability to quickly and accurately extract insights from unstructured data has huge potential to impact businesses and society at large,” said Arun Mathew, Partner at Accel. “We’re excited to partner with Primer as they continue to transform how organizations leverage AI for a competitive advantage.”
The news of Primer’s funding comes as the use of AI and machine learning is becoming increasingly prevalent across industries. As organizations continue to generate and collect massive amounts of data, the ability to extract insights from that data becomes more critical than ever. With its advanced NLP and machine learning capabilities, Primer is well-positioned to help organizations navigate this data-driven landscape and gain an information advantage.