Accern Raises $20M Series B Round to Accelerate Access to NoCode Natural Language Processing for Citizen Data Scientists

Most Accurate NLP Models Accelerate Impact for Financial Services

NEW YORK, May 2, 2022 /PRNewswire/ -- Accern, recognized as the leading NoCode NLP platform for AI breakthroughs, today announced the close of its $20 million Series B round co-led by Mighty Capital and Fusion Fund, alongside Tribe Capital, Viaduct Ventures, Shasta Ventures and Gaingels.

"Accern has built the most advanced NoCode NLP platform for financial services with industry-leading accuracy scores. We're excited to fuel their continued rapid growth, and our Products That Count platform composed of 300,000+ product managers are ideal targets for Accern as they focus on a product-led growth strategy," said Jennifer Vancini, General Partner at Mighty Capital.

Built for domain experts and business analysts, the Accern Solution with end-to-end AI/ML/NLP workflows can be deployed in minutes to deliver high impact insights for equity research, credit risk, M&A activity, ESG performance, insurance claims, fraud prevention, market intelligence, sanctions monitoring and more.

"Accern is making it easy for non-technical users to leverage the latest AI/NLP technologies to extract insights from documents," said Lu Zhang, Founder and Managing Partner at Fusion Fund. "This exponentially expands the reach of AI beyond data teams."

"Our solution fuels innovation for enterprises by providing them with powerful insights for decision-making," said Kumesh Aroomoogan, co-founder and CEO of Accern. "With this funding, we will scale sales and marketing to empower more citizen data scientists."

The Accern NoCode NLP Platform includes pre-assembled data sets, pre-built taxonomies covering over 60,000 companies and 250 themes, 250 plus pre-trained, human-grade ML/NLP models, and pre-integrated dashboards.

"In addition to making it easy for citizen data scientists to access highly accurate pre-trained models, we also enable them to customize their own AI/NLP workflows by bringing their own documents, entities, themes, models, and downstream integrations," added Anshul Vikram Pandey, Ph.D., co-founder and CTO.

About Accern

The Accern NoCode NLP Platform empowers domain experts and business analysts to extract the most accurate insights from massive streams of unstructured data—news, social media, industry reports and internal documents—within minutes. Accern offers pre-built AI/ML/NLP solutions to minimize time to value and maximize ROI for equity research, credit risk, M&A activity, ESG performance, insurance claims, fraud prevention, sanctions monitoring and more.

Recognized as the first NoCode NLP platform and industry leader with the highest accuracy scores, Accern also enables data scientists to customize end-to-end AI/ML/NLP workflows with BYO datasets, taxonomies, models and pre-integrated dashboards and DSML platforms. In production at companies like Allianz, William Blair and Mizuho Bank, Accern accelerates innovation by enhancing existing models and enriching BI dashboards.

Headquartered in New York City, Accern is backed by Fusion Fund, Mighty Capital, Shasta Ventures and Tribe Capital. Learn more at https://accern.com/.

SOURCE Accern