ayfie Group provides advanced big text analytics and search solutions that combine AI with more than 30 years of linguistics, computational linguistics and computer science expertise to extract meaning from unstructured text. Led by CEO Erik Baklid, the company offers a text analytics engine used by professionals across the legal, finance, healthcare and media industries to identify critical insights, conduct search and power business intelligence. ayfie is headquartered in Oslo and maintains offices in Denver, New York, Washington, D.C., Munich, London and Stockholm. The company raised $10M in funding and plans to use the proceeds to accelerate growth and extend its product offerings, building on its reach in the legal tech and financial tech markets. Funds will be invested in growing the North American commercial team in a new Denver office and in marketing and sales to raise global market awareness. ayfie, Inc. provides a semantically aware text analytics and information-extraction platform used across industries including legal, healthcare, and finance. The platform indexes, understands, and organizes massive amounts of unstructured text to enable information retrieval for use cases such as eDiscovery, media, compliance, and search. The company's language-processing technologies are based on more than 30 years of research at universities including the University of Munich and the University of Paris. ayfie received $8 million in funding from parent company VirtualWorks Group; the capital will be invested in sales and marketing and to support development ahead of a planned commercial launch at ILTACON 2017 in Las Vegas. ayfie GmbH, a subsidiary in Munich, focuses on research and development as well as service and support for the European market. VirtualWorks positions ayfie's technology as a strategic, forward-looking pillar and intends to expand the platform's use across multiple industries and geographies.

Total raised

$18M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2019