Digital Reasoning, an AI solutions and digital software developer, has secured an investment from Standard Chartered Bank unit SC Ventures.
With this investment, the company has now raked in a total of $40m in its Series D-1 funding round.
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The SC Venture investment will help Digital Reasoning to bolster its footprint in e-communications and Voice Surveillance for Compliance. The US-based firm also plans to expand into other adjacent use cases within financial institutions across the world.
Additionally, the company will team up with Standard Chartered Bank to expand its financial services product offerings in Communications Surveillance across international markets including the Asia Pacific, and the Middle East regions.
Digital Reasoning founder and president Tim Estes said: “Standard Chartered is a leading global bank with a very diverse footprint.
“Through the partnership, we believe we can accelerate our solutions’ applicability across Asia, the Middle East, and Africa.
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By GlobalData“Together we will further democratise using AI to understand the languages in markets where these new solutions can be used for good.”
Initially, Digital Reasoning closed the Series D-1 funding round last year. The round was led by BNP Paribas with Barclays, Square Capital, Goldman Sachs, Nasdaq, Lemhi Ventures, HCA, and the Partnership Fund for New York City participating.
Subsequently, Macquarie also joined the round as an investor of the company.
SC Ventures is the innovation, fintech investment and ventures unit of Standard Chartered Bank.
Last month, it opened an eXellerator innovation lab in China to further drive fintech innovation. It already operates such innovation labs in Singapore, Hong Kong, London, Kenya and San Francisco.
