Chicago tech firm gains $30 million to expand artificial intelligence reach


According to a company news release, the funds will be used to expand its artificial intelligence capabilities.   File image

Chicago-based Networked Insights has raised $30 million in growth funding through an initiative led by Sands Light Capital and the Cherng Family Trust.

According to a company news release, the funds will be used to expand its artificial intelligence capabilities, fuel international expansion, drive new partnerships and acquisitions, and continue growing its marketing and sales operations.

Networked Insights has had continued support from businesses including Goldman Sachs, American Family Ventures, 4490 Ventures, Kegonsa Seed Fund and other private investors. The company has raised $80 million to date because of their continued support and investments.

Networked Insights customers include over 200 brands and agencies, including GroupM, the world’s largest media buying agency.

"We are pleased to bring on new strategic investors who have strong entrepreneurial backgrounds as founders to help us develop into our next growth phase," CEO Dan Neely said. "As global leaders in CPG, they provide a deep understanding of how to use customer data strategically."

The company will continue to use its Kairos platform. Brands and agencies use this artificial intelligence to gain a greater view of consumer’s lives to better understand their spending habits. This way they can create effective ad campaigns.

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