Digital Reasoning Systems reports $18.6 million raised at first close

XDATA – January 29th 2016
Digital Reasoning Systems received two commitments for its $36 million financing round. Investors committed to buy 52% or $18.6 million worth of equity on January 15th. $17.4 million in additional funding can be raised before January 2017 based on the placement’s structure. The company closed three previous unregistered private placements which raised an estimated $38.66 million.
Digital Reasoning Systems markets and develops a cloud-based machine learning-based analytics platform, which understands how humans communicate by analyzing the context, content and relationships within big data while semantically revealing what’s most critical to our clients. The platform allows to rapidly read data from any source and help government agencies, financial institutions and healthcare organizations reveal concealed relationships, risks and opportunities. The company is backed by In-Q-Tel.
The company, headquartered in Franklin TN, is led by Timothy Estes (CEO). Digital Reasoning Systems elected to keep its revenues undisclosed.
The board of directors includes Anthony Miller, Cristobal Conde, John Brennan, Jonathan Perlin, Jonathan T Lord, Kenneth G Elzinga and Thomas Jessop.

The company has raised an estimated total of $57.26 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Digital Reasoning Systems
Industry: Other Technology
Amount offered: $36 million
Amount placed: $18.6 million
SEC filing: Source
First sale: 01-15-2016
Data as of: 01-29-2016

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