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Nara Logics Raises $6M in Series A-2

2014-10-15
CAMBRIDGE, MA, Artificial intelligence company focused on turning big data into smart data, announced today a $6 million Series A-2 financing round.
Nara Logics, Inc., www.naralogics.com, an artificial intelligence company focused on turning big data into smart data, announced today a $6 million Series A-2 financing round with participation from previous investors and new investors, including .406 Ventures. Larry Begley, co-founder and managing director of .406 Ventures and former CFO of The Boston Consulting Group and Razorfish, will join Nara's board of directors. This funding brings the total amount raised to $13 million and allows the company to accelerate efforts to further develop its artificial intelligence platform-as-a-service, which provides recommendations and decision support across categories and industries.

'This funding was earned by the team with 2 years of great work, turning the scientific discoveries of how the brain works into a platform that delivers true business benefits,' said Jana Eggers, president of Nara Logics. 'Our investors saw our progress and made the decision to increase their positions and recruit others to support our developing business.'

In addition to this funding, Nara added Dr. Mriganka Sur, the Newton Professor of Neuroscience and Director of the Simons Center for the Social Brain at the Massachusetts Institute of Technology, to its advisory board. Nara's platform-as-a-service works on customers' data to provide information and responses to that data the way the human brain does. Dr. Sur's appointment underscores Nara's commitment to bringing real intelligence to artificial intelligence using neuroscience principles.

'Having Mriganka, a world-class leader in neuroscience research, advising us ensures we stay on the leading edge of this rapidly developing field,' added Eggers. 'It keeps us in the fast lane.'

About Nara Logics, Inc.

Nara Logics, Inc. is an artificial intelligence company focused on turning big data into smart data. Nara's next-generation personalization platform analyzes the structure of information and tailors this information based on individual preferences and interests to provide meaningful connections between businesses and their customers. Learn more at www.naralogics.com.

Based in Cambridge, Mass., Nara was founded in 2010 by serial entrepreneur Thomas Copeman and built under the leadership of noted MIT neuro-computer scientist Dr. Nathan Wilson. The company has raised a total of $13 million in Series A funding. As one example of its platform capabilities, find Nara's current consumer applications at www.nara.me. Connect with Nara on social channels at www.twitter.com/nara__me and https://www.facebook.com/www.nara.me.
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