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AYLIEN to Invest €2 Million

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AYLIEN to Invest €2 Million

AYLIEN to Invest €2 Million
November 10
09:47 2017

Deep Learning and advanced Natural Language Processing are the core technologies at AYLIEN, a start-up that has announced new investment totaling €2 million ($2.35 million) and the creation of 70 jobs. The investment round has been led by the Atlantic Bridge University Fund, which invests in companies built from world-class research, along with existing investors SOSV and Enterprise Ireland who are also joining this funding round.

The investment will be used by AYLIEN to grow its Dublin team, secure its first hires in the United States, expand its product offering and make its cutting-edge technologies available to more global enterprises. The new positions, supported by the Department of Business, Enterprise and Innovation through Enterprise Ireland are across many areas of the business and include opportunities for Software Engineering, Product Management, Sales and Marketing.

AYLIEN’s tools make it easy to understand vast amounts of human-generated text using Deep Learning and advanced Natural Language Processing. The company’s products are used in complex data analytics projects and solutions by global enterprises, namely Sony, Microsoft, and Deloitte.

Having recently reached a milestone of 30,000 users, 2017 sees the company launching its new Text Analysis Platform, which allows users to easily create custom text analysis models powered by AYLIEN’s Machine Learning and Deep Learning technology. This is the third product offering from the company, building on a Text Analysis API (launched in 2014) and a News API (launched in 2016) and is set for public release in Q4 2017.

The B2B SaaS company is now growing rapidly in a market set to be worth $9bn by 2020, alongside incumbents such as IBM Watson and newcomers like Google Cloud Platform and Microsoft Cognitive Services.

AYLIEN has a strong research and development focus, with an active research team who have successfully published papers at international NLP and Machine Learning conferences such as EMNLP, NIPS, and IEEE. Essential to its success, AYLIEN has leveraged the strength of Irish research to build several strategic research relationships with leading academics in Irish universities such as National University of Ireland Galway (NUIG), University College Dublin (UCD) and Trinity College Dublin (TCD).

Parsa Ghaffari, Founder & CEO of AYLIEN, comments: “We have had a great year so far, with phenomenal growth in traction and team size, along with signing up key customers and pushing the boundaries of scientific research in Natural Language Processing and Deep Learning. We are also taking a major step towards realising our product vision by introducing our latest offering, the Text Analysis Platform, which is currently in private beta and will be rolled out over the next couple of months. We are proud to be backed by three of the most respected and forward-thinking institutional investors in Ireland, and we look forward to leveraging their knowledge, knowhow and network to further expand and grow AYLIEN.”

CAPTION:
Pictured (L-R): Parsa Ghaffari, Founder & CEO of AYLIEN; An Tánaiste and Minister for Business, Enterprise and Innovation, Frances Fitzgerald, TD; and Joe Healy, Manager, High Potential Start-Up Division at Enterprise Ireland.

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