STOCKHOLM, SWEDEN — (Marketwired) — 06/25/13 — Artificial Solutions ( ), the natural language interaction (NLI) specialist that enables users to have a meaningful, humanlike interaction with technology, announced today that it has raised $9.4m (EUR7.3m), in its third round of funding from existing shareholders led by the growth equity investor Scope.
The additional funding will help support expansion into the US to deliver projects driven by existing customers and to capitalize on a strong pipeline of US based prospects. The investment will also enable Artificial Solutions to further develop its vision of the -Virtually Connected World- that has the potential to transform how companies communicate with and understand their customers and will drive the next stage of the company-s growth.
The company-s NLI platform – called Teneo (Latin meaning -to understand-) – is device, operating system and language independent. It listens to and interprets what is said then applies advanced reasoning to determine the best response, whether that be controlling onboard features within a device, resolving service queries, answering questions or providing links to information and external resources. Already delivering the necessary components, patents and proof-points to support its Virtually Connected World vision, Artificial Solutions also enables its clients to access unprecedented levels of Big Data customer insight to provide the intelligence they require for new knowledge driven commercial models.
“Expansion into the US is part of our controlled business strategy and a key element of a wider growth plan that anticipates further activities in both Asia and Latin-America,” says Lawrence Flynn, CEO of Artificial Solutions. “This new round of funding demonstrates the commitment we have from our investors and also their confidence in the massive opportunities that are emerging as the demand for intelligent, natural language based interfaces for connected devices comes to the fore.”
Classed by Gartner as a “Visionary” company in the Web Customer Service Magic Quadrant, Artificial Solutions- technology has been implemented in hundreds of organizations in both the private and public sector including Agria, Banca Sella, Credit Suisse, IKEA, Vodafone, The Cooperative Banking Group, Telenor and The Swedish Social Insurance Agency. It has an international infrastructure, giving it an important competitive advantage when dealing with global brands that require multi-lingual implementations. The company is the clear European leader in its field with offices in Sweden, UK, Germany, Netherlands, Spain, Italy, and South America and a network of international partners.
“The markets in which Artificial Solutions operate are dynamic, fast-changing and offer massive potential growth opportunity,” says Fredrik Oweson, partner and co-founder of Scope. “Building on its experience of implementing multi-language solutions and of developing patented technology that enables business users to create sophisticated NLI solutions, places it in a unique position as the demand for natural language takes off in consumer devices.”
About Artificial Solutions
Artificial Solutions is the leading specialist in Natural Language Interaction (NLI). The company-s patented technology enables people to hold two-way meaningful conversations with applications and services running on computers, mobile technology and other electronic devices in a humanlike, intelligent manner.
Typically deployed as web-based Virtual Assistants for customer service and sales, and as embedded speech-enabled applications for mobile computing, Artificial Solutions enables organizations to increase customer satisfaction and direct revenues, whilst reducing costs. Platform and device independent, Artificial Solutions- NLI technology is available in 21 languages and includes powerful analytics that deliver valuable insight into customers- needs and behavior.
With development centers in Barcelona, Hamburg, London and Stockholm and offices across Europe, Asia-Pacific and South America, Artificial Solutions- technology is deployed by hundreds of public and private sector organizations and used by millions of people every year. For more information, visit
About Scope
Scope is a private equity firm, investing alongside entrepreneurs in Nordic growth companies with attractive business models. As an active owner, Scope partners with management of the companies to build globally scalable businesses with sustainable growth. Scope currently manages three funds with a total capital in excess of EUR 190 million.
For further information, go to
Contacts:
Media Contact for Artificial Solutions:
Andy Peart
CMO, Artificial Solutions
+ 44 7880 540 715
Sara Claridge
Marylebone Media Relations
+44 (0)7968 626838
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