14 November 2019

Atlantic Bridge lead $10m round into Big Data company Siren

Atlantic Bridge lead $10m round into Big Data company Siren

Irish data company Siren has raised a $10 million round that will help the company further develop its products and expand into new markets.

Developed as a spinout from Data Intensive Infrastructure, the big data and knowledge representation research group at NUI Galway, Siren offers an investigative intelligence platform that makes it easier to use the data you collect to answer questions and make links, find patterns and relationships. It makes data accessible through real-time search, dashboard analytics, knowledge graphs and real-time alerts.

The latest funding round was led by Atlantic Bridge, with participation from DVI Equity Partners, Frontline Ventures and Enterprise Ireland, and follows a $4 million funding round in 2018.

“The demand for investigative intelligence and large-scale interconnected data analysis is constantly accelerating. Our platform uniquely enables this in real-time at a scale that companies and government organisations require,” said John Randles, Siren chief executive. “In this sector, it is critical to not only raise funds, but also to have the right wealth of experience.”

As part of the DVI participation, former i2 chief executive Bob Griffin will join Siren’s board. A member of the board of advisers for the Intelligence and National Security Alliance, a director of the National Cyber Forensics and Training Alliance, and a member of the cyberadvisory board for the Daily Cypher Brief, Mr Griffin led intelligence firm i2, which was bought by IBM.

Pioneer

“We believe Siren is a pioneer in a market that is about to explode,” Mr Griffin said. “We are pleased to support their ongoing success and become part of a journey that will see investigative intelligence technologies shape the future direction of law enforcement, cyber security and financial fraud.

Co-founder and chief product officer of Siren Dr Giovanni Tummarello said the company was at the forefront of augmented analytics, which uses machine learning automation and artificial intelligence techniques to augment human intelligence and contextual awareness. Globally, the market is expected to grow to $18.4 billion by 2023, up from the current $4.8 billion.

The company has offices in Galway, Dublin, Bordeaux, Cambridge, Trento in Italy and Philadelphia.