Armorway Announces $2.5 Million in Seed Round Funding for Pioneering Artificial and Prescriptive Intelligence Enterprise Initiatives
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AI Innovator also named as Red Herring North American Top 100 Finalist
LOS ANGELES, June 7, 2016 /PRNewswire/ -- Armorway, a leading provider of advanced data analytics solutions, today announced the completion of a $2.5 million seed round of financing for its patented Artificial Intelligence (AI) platform that delivers descriptive, diagnostic, predictive and prescriptive analytics with cognitive intelligence and deep machine learning to dynamically understand and respond to all types of security threats.
This seed round will enable Armorway to expand its customer base, continue product development in the cyber-physical enterprise space and expand its R&D team which includes data scientists, AI and machine learning experts and engineers. Investors include Aristos Ventures, private angel investors and investment from serial entrepreneurs, founders and executives from several high tech companies. The Company received previous support through University of Southern California grants from the Department of Homeland Security, Department of Defense and U.S. Army Research Office.
"This seed capital will help Amorway continue advancements in AI and prescriptive analytics, one of the few bright lights over uncertainty in today's unpredictable security threat landscape," says Armorway CEO and co-founder Zareh Baghdasarian. "Security organizations of all kinds spend significant time and effort on incident response and investigation – both reactive processes which are inconsistent with the true definition of better safety and prevention."
Characterized by techniques such as graph analysis, simulation, complex event processing, neural networks, recommendation engines, heuristics, and machine learning, Amorway's solution is in the same category that industry analysts define as a form of advanced analytics which examines data or content and advises actions for desired predictable outcomes.
In February, Armorway introduced Trust™ which joins Armorway Sentinel™ as part of the company's patented AI technology platform that improves an organization's proactive response to active incidents. Trust™ turns routine internal security checks into reliable threat detection and deterrence, enabling organizations to become more proactive against insider threats, including data theft and physical crime.
Armorway has also been designated as a Finalist in the 2016 edition of the Red Herring 100 North America award which recognizes companies in the fields of security, Web 2.0, software, hardware, life sciences, cloud and mobile for technological innovation, management strength, market size, investor record, customer acquisition and financial health.
"Armorway is honored to be recognized by Red Herring for our achievements in cognitive intelligence, security and connected tech," said Armorway CEO and co-founder Zareh Baghdasarian. Company co-founder Milind Tambe added, "It takes a special mix of data scientists and security experts to look at data to exploit predictions of human behavior with security in mind and Armorway is fortunate to have on our team the best minds in computer science who can do just that!"
According to Alex Vieux, publisher and CEO of Red Herring, "2016 will be remembered as a special vintage. The finalist list confirms the excellent choices made by entrepreneurs and VCs and the start-ups' solid roots in corporate America, embracing their innovations. By all metrics, it emphasizes the United States' entrepreneurial excellence."
Armorway will present its winning strategy at the Red Herring North America Forum in Newport Beach, CA, June 6 to 8, 2016. The Top 100 winners will be announced during a special awards ceremony the evening of June 8.
About Armorway Armorway provides intelligent systems that learn your environment, dynamically understanding the right decisions to make in order to achieve your objectives. Headquartered in Venice, California, Armorway was founded in 2013 and develops products that bridge the gap between data and decisions, as well as human intuition and machine intelligence. The core technology was developed in partnership with the University of Southern California through grants from the Department of Homeland Security, Department of Defense and the US Army Research Office.
Media Contact: JoAnn Yamani, Esq., APR [email protected] 408-781-5719
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/armorway-announces-25-million-in-seed-round-funding-for-pioneering-artificial-and-prescriptive-intelligence-enterprise-initiatives-300280756.html
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