AP NEWS

MondoBrain Raises $13.3 Million for its Augmented Intelligence Platform, a Human-Centric Approach to AI

November 30, 2018

NEW YORK--(BUSINESS WIRE)--Nov 30, 2018--MondoBrain, today announced the closing of a $13.3 million Series A funding round led by Japia, a France-based Fund owned and managed by Jean- Paul Inchauspé. Finamar, one of Luc Dulayet’s Company, strengthens the European part of the venture, and Noreen Harrington, a former Goldman Sachs executive, took the lead of a selection of private US investors, like Philipp Simotas and Steven Tye.

The company will invest in expanding its sales and marketing international teams and in accelerating innovation in product development.

“The rapid development of Artificial Intelligence legitimately generates anxiety and fears, however MondoBrain proposes a new approach where AI serves professionals and help them make better decisions and execute them will full collective consensus” said Augustin Huret, founder and CEO of MondoBrain and inventor of the technology. “Our solution provides Prescriptive Analytics that welcomes users’ experience and intuitions, thus empowering them to always make the best possible decisions, with full traceability and transparency. In environments where complexity is growing exponentially, MondoBrain brings simplicity and facilitates team work and action.”

MondoBrain began selling in 2016 and already serves more than 50 enterprise customers. For most of them, MondoBrain brought contributions to mission critical processes that are measured in millions of US$. In 2018, BNP Paribas Personal Finance granted their Innovation Award to MondoBrain for the first use of AI in a fully compliant support to “New Ways of Working”. MondoBrain also received recognition by Airbus Helicopters with their Quality Award to a team who brought an improvement to the quality of composite manufacturing.

“We realized that the main goal of Mondobrain team was to give to Artificial Intelligence the most adequate and relevant role within human organizations, thanks to their capability to empower every single professional.” Said Jean-Paul Inchauspé, head of Financière Japia, “It allows everything to be done with and for the people involved”.

Luc Dulayet said “My investment in Mondobrain is not only financial. I want Mondobrain to be at the core of my tourism company and show how Augmented Intelligence can contribute to the success of businesses of any size and purpose, now.”

With her personal investment and presence at the Board of Directors, Noreen Harrington brings a unique Prospective of the US market to MondoBrain. She said that “AI can be a threat or an opportunity. With MondoBrain, it will be successful because it is designed to service people, enhance performance and productivity.”

About MondoBrain Based in the US, MondoBrain founded in 2014 by Augustin Huret is the first digital decision-making platform to marry human, artificial and collective intelligence in a simple interface dedicated to decision makers. With almost 30 employees and well-known customers (BNP Paribas, Airbus, Johnson&Johnson, Sanofi, Safran…), MondoBrain’s unique Artificial Intelligence algorithm provides intelligent and 100% traceable recommendations on business levers to optimize profit. Its success lies on the combination of artificial, human and collective intelligences thanks to an upgraded calculation power from exclusive algorithms. MondoBrain’s solution for decision making enables an unrivalled performance monitoring in every public or private industries such as: banking, industries, space & aeronautics, pharmaceuticals, asset management & finances, supply chains, marketing, retail, R&D, risk, fraud, compliance… There is no business that cannot be improved by MondoBrain in complex environment: MondoBrain is THE reference Artificial Intelligence solution which simplifies the decision-making process in an optimal way.

Headquartered in Virginia USA, MondoBrain has offices in New York, Washington and Paris.

www.mondobrain.com

Noreen Harrington  has been Trustee of Adelphi University since October 2008. Ms. Harrington served as a Managing Director at Goldman Sachs, head of hedge funds and non-dollar sales in the Fixed Income Division on the global scale; co-head of Barclays Capital Fixed Income, and a member of its management committee. She is a founding member of 85Broads, the Goldman Sachs Alumni Women’s Network, and 100 Women in Hedge Funds. She received various industry awards, including Titan of the Year 2003, Top Fifty Women in Finance (1997), Compliance Person of the Year 2003, and Truthsayer Award.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181129005460/en/

CONTACT: Press contact

MondoBrain

Bruno Saint Cast

Strategic Marketing

bruno.saint-cast@mondobrain.com

+33 6 34 68 34 76Axel de Chavagnac

A2C Conseil Communication

axel.dechavagnac@adeuxc.fr

+33 6 82 43 60 75

KEYWORD: UNITED STATES EUROPE NORTH AMERICA FRANCE NEW YORK VIRGINIA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE PROFESSIONAL SERVICES CONSULTING HUMAN RESOURCES

SOURCE: MondoBrain

Copyright Business Wire 2018.

PUB: 11/30/2018 05:26 AM/DISC: 11/30/2018 05:26 AM

http://www.businesswire.com/news/home/20181129005460/en

AP RADIO
Update hourly