A capital increase by Indaco Venture Partners SGR and Invesco will support continued growth in the USA and internationally
Expert System announced a €3M capital increase, based on new ordinary shares offered for subscription to two institutional investors, Indaco Venture Partners SGR and Invesco.
The new financial resources will be used to support the Group’s international expansion plans, starting with the United States, where the goal is to replicate and consolidate the experience gained in Europe in the insurance, banking and financial sectors. Leveraging the many case studies with some of the most important companies in these sectors, Expert System aims to strengthen sales capacity and accelerate marketing strategies to further consolidate its state-of-the-art, flexible and complete technology, available on-premise, via API and in the cloud.
Walt Mayo, Expert System Group CEO, said: “We deeply appreciate the confidence that Indaco Venture Partners SGR and Invesco demonstrated in Expert System with this investment” said. “Even given the challenges of the COVID-19 pandemic, they recognize that we are uniquely positioned to accelerate our leadership in applying AI to unlock the value of language. Language is data and our platform sets the standard for augmenting insight and accelerating business velocity – both directly in the enterprise and as the language layer in technology solution stacks.”
Further information available here