Anagog, the pioneer of on-device artificial intelligence solutions, announced that it has raised an initial $10M in Series-C funding.
The round was co-led by IN Venture, Israel’s corporate venture capital arm of Sumitomo Corporation, part of Sumitomo Corporation Global Venture Group, as well as existing investor and VC firm, MizMaa, and is joined by Continental, the international automotive supplier, tire manufacturer, and industry partner.
“We are proud to have IN Venture and Continental join us and are excited about their and MizMaa’s investment in our company, intended to drive greater momentum and growth for our business,” said Ofer Tziperman, CEO of Anagog.
“Especially during this global, challenging period, we continue to revolutionize the way companies understand their customers and deliver hyper-personalized experiences based on physical world behavior.
“The new investment will play a significant role in enhancing our capabilities and future technology offerings. It will help us address the increasing demand for better personalization capabilities and position Anagog as the leader in ‘edge-AI.’
“With our investors’ support, we will change the way companies reach, connect with and create meaningful relationships with consumers around the world, providing them with seamless customer experiences and bulletproof privacy.”
“We are really excited to get on board,” said Eitan Naor, Managing Partner of IN Venture. “Anagog has an exceptional deep technology and an experienced team. We believe that the combination of edge-AI, hyper-personalization, and strict privacy is a game changer in several key domains. We are joining to support Anagog becoming a market leader while impacting the lives of millions of people around the world.”
“Anagog has a unique mix of state-of-the-art technology, a highly talented and experienced team, and a leading edge-AI solution that revolutionizes and enhances end customer experiences,” says Rouven Spinner, Investment Partner – Venture Capital at Continental.
“We are thrilled to work with Ofer and his passionate team, while pursuing our goal of leveraging and creating more data-driven and based mobility services.”
“MizMaa is excited to continue supporting the strong team at Anagog,” said Isaac Applbaum, Managing Partner at MizMaa Ventures. “Given the global privacy regulation tsunami, we believe that no business will be able to compete without adopting a privacy-by-design solution, and Anagog is standing ready to provide such a deep-tech solution.”
The Series C investment will help Anagog bolster its global sales and delivery capabilities as well as leverage the funds to support the core R&D team – including several new product innovations that will be revealed in the coming months.
As the industry currently grapples with unclear changes ahead, these additions will serve as the missing link needed to provide accurate views of real-time and real-world customer insight as they emerge out of the current crisis.
At the same time, this will offer richer, contextual services that create a unique and enhanced user experience. It will be pivotal in further setting Anagog apart from competition and serving as a catalyst to disrupt the way companies reach and connect with their core audiences, now and in the future.