Participated · Series A · Jun 2018

Falkonry develops an Operational AI product (Falkonry LRS) that discovers, explains and predicts behaviors from operational data without requiring data scientists. Its platform is built to be easily deployable, scalable, highly secure and able to handle massive amounts of data on-premises, in the cloud or at the edge. The company has developed an “Air Gap” version to meet high government security requirements and is integrated into DoD analysis platforms to support classified and unclassified environments. Falkonry states it has tripled the number of customers it is serving within the Department of Defense following early evaluations. The product is being used by STRATCOM’s Joint Warfare Analysis Center (JWAC) to analyze large operational data sets and provide real-time inferencing. Customers reportedly achieve initial results in a few weeks, save millions in operating costs, and realize a 3–5x ROI annually. Falkonry delivers operational machine learning through its Falkonry LRS product, enabling operations teams to discover patterns in existing operations data, apply predictive analytics, and receive actionable insights without requiring data scientists. Falkonry LRS can be deployed on-premises or in the cloud and is used across industries including oil & gas, automotive, semiconductor, mining & metals, power & energy, and industrial equipment. Customers such as Toyota and EDP have adopted the system, and the company has been recognized as a Gartner Cool Vendor and an IDC Innovator. Falkonry says its approach delivers measurable improvements in throughput, uptime, yield and product quality and has saved customers millions annually. The company plans to use new funding to expand its engineering and customer-success organizations and to pursue OEM partnership routes to revenue. Falkonry develops artificial intelligence software to discover, recognize and predict time-series patterns for downtime, quality, yield and efficiency to improve overall equipment effectiveness (OEE). Its patent-pending core AI continuously improves as it analyzes more input data and expert labels. The software is offered via a term-licensing model and can be deployed in the cloud or on-premises, enabling industrial engineers to create real-time process-control insights from IoT time-series data. Technology partners include OSIsoft, SAP, Vegam, MDS Technology, Microsoft, PTC, PubNub and Oracle. The company has offices in Seoul and Mumbai and serves customers across APAC and North America. It intends to use the recently raised funds to continue expanding operations.