Artificial Solutions bags over £20m to grow artificial intelligence platform, Teneo

Artificial Solutions bags over £20m to grow artificial intelligence platform, Teneo 1600 1200 Kane Simms

Artificial Solutions has raised over SEK 250 million (Swedish Krona) to fuel growth of its artificial intelligence SaaS platform, Teneo.

That’s around £21m, or $28m, of refinancing that’ll enable the company to pay or consolidate existing debts and leave with over £4m available for investing in the growth of its SaaS offering.

Per Ottosson, CEO of Artificial Solutions told VUX World:

“LUIS ^ Teneo is having great affects in the market since we’ve gone SaaS… You might have seen Swisscom’s announcement about the 1.8 million calls going through their conversational IVR, great effects on net promoter scores. And this is also having effects on the capital markets. So what you saw this week was news again, that we’re injecting money and capital into the company.”

“Great confidence, from investors. So far this year, we’ve raised more than forty million dollars from the capital markets. And of course, that’s a great vote of confidence in LUIS  ^ Teneo, our SaaS strategy, which is really converting call centers across the globe right now, in a big, big way.”

Artificial Solutions’ platform offering is unique in a sense that it utilises Microsoft’s LUIS NLU as its core and only NLU.

Through building on top of Microsoft Azure, Teneo, or ‘LUIS ‘to the power of’ Teneo’, as the Per refers to it, Artificial Solutions is speaking the same language as it’s enterprise prospects.

With many company’s already running on Azure and that’s increasing over time, it’s a much easier sell than it would be for another vendor using a private cloud or cloud services from one of the other big tech providers. Trust is already baked-in. Everyone in IT trusts Microsoft!

Companies like Swisscom are already utilising the platform To automate 1.8 million calls through its IVR. Teneo is also powering Swisscom’s set-top-box voice user interface and chat applications.

Large enterprises are often risk averse at the best of times, let alone when it comes to implementing emerging technologies. Technologies that, in time, may end up becoming just as crucial and core to their business as the table stakes systems used throughout the enterprise like CRM, DMS and CMS.

At least, that’s what Artificial Solutions is hoping, and maybe building on top of Azure could give it the foundations it needs to make that a reality.

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