
Atlantic Bridge finances €2m round for Aylien
Fund manager Atlantic Bridge has led a €2m funding round for Irish text analysis startup Aylien, alongside existing investors.
The GP led the funding round alongside two existing investors, business accelerator SOSV and government-backed holding Enterprise Ireland, which provided a €580,000 seed round for the business in March 2016.
At completion of the current transaction, Atlantic investment director Helen McBreen will join the company's board.
Following the deal, the business aims to hire 70 people in its Dublin office and open a new office in the US. Furthermore, the funding round will allow the business to launch a new product, called Text Analysis Platform, focused on text analysis models. It is the third product for the Irish startup, which launched Text Analysis API in 2014 and News API in 2016.
Company
Aylien develops software based on machine learning techniques and text analysis. Headquartered in Dublin, the business was founded in 2012 and currently has 20 employees.
People
Atlantic Bridge – Helen McBreen (investment director).
Aylien – Parsa Ghaffari (founder, CEO).
Latest News
Alantra reshuffles investment banking division headed by new CEO
Miguel Hernández takes on CEO role after more than 20 years with the financial advisory firm
Sofinnova launches digital medicine strategy
Life sciences sponsor’s sixth strategy will deploy EUR 2m-EUR 8m tickets in seed and Series A
Quadrivio plans first close for EUR 500m Lifestyle Fund II by mid-2023
Italy-based GP will expand predecessor Made in Italy vehicle’s focus beyond Italy to target European SMEs
AnaCap reaps 4.3x on MRH Trowe minority stake sale to TA Associates
German insurance broker will now be backed by both GPs; deal comes 2.5 years into AnaCap's investment period