High-profile backers including USAA, Microsoft Ventures and Intel Capital are pumping $15 million into Austin artificial intelligence startup CognitiveScale.
The company, founded by members of the IBM Watson team, received the money from additional investors including Norwest Venture Partners and the Westly Group.
The new round of investment, announced Tuesday, brings the total raised by CognitiveScale to $50 million.
In addition to the investment, USAA has signed on as a CognitiveScale customer.
Launched in 2013, CognitiveScale builds augmented intelligence software for financial services, healthcare and commerce markets.
The company, which is based in Austin and has offices in New York, London and India, will use the funding to accelerate product development.
Last year, CognitiveScale and the MD Anderson Cancer Center signed a multi-year partnership to apply cognitive computing to healthcare decision making, enhance the patient experience and improve employee productivity.
Other customers include Macy’s, Nestle, IBM and Barclays.
“This round of funding demonstrates continued confidence in our strategy to help businesses augment and extend human creativity and capabilities,” said Akshay Sabhikhi, CEO of CognitiveScale, in a statement. “We have delivered real and measurable outcomes with some of the largest banks, healthcare and retail organizations.”
Sabhikhi spent seven years at Austin-based Trilogy in product management roles. Following Trilogy, he held positions at other software companies, including Webify, which was acquired by IBM in 2006.
The Webify acquisition led to an eight-year stint at IBM. Following IBM, Sabhikhi co-founded CognitiveScale.
CognitiveScale’s executive chairman is Manoj Saxena, a former general manager of IBM Watson, and its chief technology officer is Matt Sanchez, who previously led Watson Labs.
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