CHARLOTTE – Stratifyd, which focuses on artificial intelligence-powered data analytics solutions, is cashing in on growing investor taste for AI startups.
The Charlotte-based company has closed on $9 million in additional equity, according to a securities filing on Monday. The funding came from five investors, and the firm doesn’t expect the funding to last more than one year.
Last fall, Stratifyd raised $20 million with an aim to raise another $5 million.
Stratifyd is a rapidly-growing technology company that provides data science research-grade analytics solutions to companies worldwide. Its customers include companies such as Prudential, Etsy and Masco, according to a story from North Carolina Business News Wire that was published in WRAL TechWire.
The company was built around the customer feedback loop to help businesses increase customer acquisition and retention.
In 2015, the company officially launched its first Fortune 500 customer, Lenovo. Three years later, the company has evolved from an AI platform to an end-to end customer engagement solution.
The company nearly doubled the number of employees, doubled the customer base and tripled revenue in 2017 leading them to relocate its headquarters in Charlotte.
“We’re very excited about the move,” said CEO and founder Derek Wang on the company’s website. “Our company grew rapidly in 2017 and will continue to grow rapidly in 2018. We needed space to accommodate this growth.”
In 2018, the Charlotte Business Journal named Stratifyd one of Charlotte’s best places to work.
In January, Wang received the Best Innovation award from Finsiders CLT.
“I’m very honored to receive this award,” Wang said. “It’s exciting for Stratifyd to be recognized as the most innovative service because we work so hard and this reinforces that we’re putting our best foot forward. And the increased visibility this will provide will help us attract more talented employees and more clients along the way
Wang founded Stratifyd with Li Yu and Thomas Kraft while conducting government-funded research on how AI could ingest, analyze, and visualize unstructured data.