Ann Arbor-base Clinc Inc., an artificial-intelligence startup that built Finie, a Siri-like voice-controlled app for banking, announced Wednesday morning that it has raised a funding round of $6.3 million.
That follows a seed-stage round six months ago of $1.2 million for the company, which was founded in 2015.
The current round was led by Drive Capital of Columbus, Ohio, and joined by Chicago-based Hyde Park Venture Partners, Ann Arbor-based Cahoots Holdings and Boston investor Stuart Porter.
The investment followed a well received appearance by Clinc at the Consumers Electronic Show in Las Vegas in January. Last September, it won a Best of Show award at Finovate, a financial-tech trade show in New York, for its Finie app.
Clinc was co-founded by two research professors at the University of Michigan, Jason Mars and Lingjia Tang. The company’s open-source intelligent assistant and machine learning research platform is involved in research programs with Intel Corp., IBM Corp. and the National Science Foundation.
Mars, Clinc’s president and CEO, was named by Crain’s last November as one of 50 names to know in IT in Michigan.
“We’ve had overwhelming interest in Finie from financial institutions covering a wide variety of financial functions,” Mars said in a news release.
“With this additional capital, our A.I. will become even more capable. We’re going to eliminate the complexity and barriers that consumers typically face when understanding their finances, and we’re going to help more consumers connect with their financial data in personalized, impactful ways with minimal effort.”
Mars said the funding will be used to invest in product innovation and to ramp up hiring. The company employs 21.
Clinc landed two customers almost out of the gate following its founding — Ann Arbor-based Notion AI Inc., which uses artificial intelligence for apps that better organize the daily flood of email; and Bankjoy, a Silicon Valley startup that provides mobile banking applications for credit unions and small banks.
Guy Suter, the CEO at Notion AI, is one of the investors in Cahoots Holdings.
Mars previously was a visiting research scientist at Google and a research scholar at Intel Corp.Read Original Article