DreamQuark receives €14 million from international investors to build a leader in ArtificiaI Intelligence for the financial services industry.
Clipperton is pleased to announce it advised DreamQuark in structuring a €14 million financing round to build a global leader in trusted and large-scale production artificial intelligence for the financial services.
- The transaction highlights Clipperton’s expertise in artificial intelligence applied to various fields and industries after advising Ibex (cancer diagnosis) as well as Novaquark (gaming) earlier this year.
- This private placement adds to the cohort of acceleration rounds for software companies managed by Clipperton whose track-record in the space includes transactions with Broadpeak, Sendinblue, Linkfluence, Botify, iAdvize, Odoo, etc.
- Operating on a global scale, DreamQuark received the backing of a group of international investors: the round was led by Alma Mundi Ventures, with co-investments from AG2R la Mondiale, Keen Venture Partners and NewAlpha Asset Management, joining historical shareholder CapHorn Invest.
Paris, December 18, 2019 – Leading European technology investment bank Clipperton is pleased to announce its role as financial advisor to DreamQuark in the context of the company’s €14 million euros Series B financing. This new investment was brought by a group of new investors including Alma Mundi Ventures (lead), NewAlpha Asset Management, Keen Venture Partners and AG2R LA MONDIALE, with the participation of historical investor CapHorn Invest.
The round will enable DreamQuark to further develop and deploy Brain, its software platform for building trusted and production-ready AI models dedicated to large-scale financial institutions. The company also intends to increase the number of integrations with leading business solutions used in the financial service industry.
With Brain, DreamQuark addresses the challenges of using explainable AI for business-critical decisions at scale, with a frictionless funnel to load and process data, and subsequently deploy, integrate and monitor AI models. DreamQuark is about to release a new product recommendation engine for wealth managers, insurance and banks companies and also aims to reinforce its ethical approach of AI with unique features that promote trust and control in the AI models.
Commenting on the transaction, Nicolas Meric, CEO and founder of DreamQuark said: “We thank CapHorn Invest to renew its confidence in the ability of DreamQuark to build a leader in explainable artificial intelligence and we welcome Alma Mundi, NewAlpha Asset Management, Keen Venture Partners and AG2R LA MONDIALE as new shareholders of the company. This funding round will help accelerate our sustainable commercial development across Europe through direct sales and partnerships and continue to satisfy our existing customers”.
With the transaction, Clipperton continues to demonstrate its expertise in structuring acceleration rounds for artificial intelligence players thanks to a thorough understanding of the specifics of the technology and a clear vision of the value-added for the industries where it is used.
The deal also highlights Clipperton’s ability to structure cross-border transactions involving tier-one investors from various geographies as well as its unique know-how in advising high-growth software companies in their fundraising operations.
For more information, please contact:
- Nicolas von Bülow, Managing Partner, nvonbulow@clipperton.net
- Martin Vielle, Director, mvielle@clipperton.net
About Clipperton
Clipperton is a European independent corporate finance advisory firm exclusively dedicated to the Technology space, advising high growth companies on M&A transactions, debt financings and equity offerings. With offices in London, Berlin, and Paris and an international reach, Clipperton is a European leader in Technology financial advisory. Over the past 15 years, the team has successfully completed more than 300 high profile transactions globally.