FB pixel

Deci raises $21M to leverage artificial intelligence to optimize algorithm development

Possible applications include face and voice biometrics
Categories Biometric R&D  |  Biometrics News
Deci raises $21M to leverage artificial intelligence to optimize algorithm development

Artificial intelligence (AI) company Deci has announced a $21 million Series A round led by New York-based global private equity and venture capital firm Insight Partners.

The company’s platform uses end-to-end deep learning development to aid companies in building, optimizing, and deploying advanced models for cloud, edge, and mobile applications.

The funding also saw the participation of existing investors Square Peg, Emerge and Jibe Ventures, as well as new investors, including Samsung Next, Vintage Investment Partners, and Fort Ross Ventures.

The fresh funds, which brings the total raised by the company to $30.1 million, will be used to accelerate Deci’s commercial growth by expanding sales, marketing, and customer success operations globally.

“This funding is a vote of confidence in our work to empower enterprises to make deep learning breakthroughs into an everyday reality and we are delighted to be leveraging the support and experience of Insight Partners, as well as our other outstanding investors, on this journey,” said Deci’s CEO Yonatan Geifman.

According to Deci, its AutoNAC (Automated Neural Architecture Construction) platform enables AI developers to shorten the development lifecycle substantially, delivering up to an 80 percent reduction in cloud computing costs.

“AutoNAC created some of the best classification and detection models ever developed,” explained Ran El-Yaniv, co-founder and chief scientist at Deci.

“But we didn’t stop there; our technology is used for any deep learning task, be it a vision or Natural Language Processing (NLP). Due to the fierce deep learning race to produce more powerful neural networks, AutoNAC is continuously improved so that Deci’s customers will always receive the strongest models.”

Together with the news of the investment, Deci also announced that Lonne Jaffe, managing director at Insight Partners, will join the Board of Directors at Deci.

“Deci is at the forefront of AI and deep learning acceleration, with highly differentiated technology that lets customers optimize blazingly fast deep learning models for inference tuned to any hardware platform,” he said.

“We are delighted to be part of Deci’s ScaleUp journey and look forward to supporting the company’s rapid growth,” Jaffe concluded.

Article Topics

 |   |   |   |   |   |   | 

Latest Biometrics News


New FaceTec CLO among avalanche of appointments in biometrics and fraud protection

New executives have been named by biometrics providers FaceTec, Pindrop and Fingerprint Cards, along with C-level appointments by Prove and…


Indonesia issues call for World Bank-backed digital identification project

Indonesia is looking for a company providing consulting services as a part of its upcoming digital transformation project backed by…


Affinidi data sharing framework leverages privacy-preserving open standards

Affinidi, a company specializing in data and identity management, unveiled the Affinidi Iota framework at the WeAreDevelopers World Congress. This…


Sri Lanka set for January biometric passport launch, plans airport upgrades

Sri Lanka is preparing to begin issuing biometric passports with electronic chips embedded as of January, 2025, according to a…


Vending machines with biometric age verification roll out in Germany, US

Vending machines are growing in popularity as a way to sell age-restricted products around the world, with Diebold Nixdorf algorithms…


San Francisco police hit with lawsuit over facial recognition use

In 2019, San Francisco became the first city in the U.S. to ban facial recognition technology, forcing the police and…


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events