- Global AI company Expert System has announced that it has raised $29.4 million in a new round of funding, which includes $20 million raised through institutional investors and $9.4 million through the exercise of shareholder option rights
Global Artificial Intelligence company Expert System has announced that it has raised $29.4 million in a new round of funding, which includes $20 million raised through institutional investors and $9.4 million through the exercise of shareholder option rights. And Expert System also announced that it has strengthened its leadership team with the addition of Chief Revenue Officer Colin Matthews and Chief Marketing Officer KC Lincoln.
Through these initiatives, Expert System continues its process of growth and consolidation of global leadership for the technology and tools that support the creation, development, implementation, and management of artificial intelligence applications to unlock the value of language in the enterprise at speed and scale.
As CRO, Matthews will lead the Expert System global sales organization. And he brings 25 years of experience helping multinational enterprise SaaS companies build strong sales teams and scale revenue around the world. Before joining Expert System, Matthews was Senior VP of Sales at Avoka where he doubled revenue growth that led to the company’s acquisition by global banking software leader Temeos. And he has held executive sales leadership positions at several leading fintech companies, helping drive two successful IPOs at LifeLock (ID Analytics) and Yodlee. Matthews holds a degree in Industrial Engineering from Dalhousie University in Halifax, Canada.
As CMO, Lincoln will be responsible for leading the global marketing organization and for communicating the value of Expert System products and solutions to all customers and channels, ranging from data scientists and developers to partners, technology providers, and global organizations. Plus he brings 20 years of experience in building, leading, and scaling top-performing marketing teams in high-growth multinational and SaaS companies. Lincoln has led award-winning marketing teams at InsightSquared, XebiaLabs, Telerik, and SmartBear Software. Lincoln received his B.S. in Marketing from Syracuse University and his M.B.A from the University of Virginia.
The $39.2 million in capital raised to date in 2020 — including the $6.3 million sale of the 17% stake in CY4Gate, the $3.5 million capital increase in May, and the most recent funding — confirms the value of Expert System technology for unlocking the value of the data of language at speed and scale. And with these key additions to the leadership team, the company will be able to execute on its “Path to Lead” growth strategy to become the global platform of reference for the design, development, implementation, and management of AI solutions for a large number of enterprise use cases based on Natural Language Understanding and Natural Language Processing.
KEY QUOTES:
“We are extremely pleased by the timely support and confidence in our strategic plan from our shareholders and new investors, and we are thrilled to welcome these new executives to our leadership team. As companies of every size increasingly rely on data to make better decisions, faster, the current opportunities in the Artificial Intelligence-based Natural Language market position us for tremendous growth over the near term. Colin and Keith bring a depth of industry knowledge and expertise that will allow us to capitalize on the strength of our technology and of our existing teams for capturing this potential as we continue to innovate and grow the business in the US and globally.”
– Walt Mayo, Expert System CEO
“I am thrilled to be joining Expert System at this exciting time. The value that practical AI-based Natural Language technology can bring to organizations of every kind is unparalleled, and I am committed to scale and structure a sales organization that will be perfectly equipped to present this value to global enterprises, government organizations, and technology partners.”
– Colin Matthews, Expert System CRO
“I am excited to join Expert System and look forward to working closely with our global teams to communicate the unique business value of the Company’s AI-based Natural Language problem solving to make decisions and optimize business results. Expert System has been a leading innovator in this space for more than 20 years, and I am excited to help support our continued growth and expansion at this pivotal time, especially in the US where our new strategy can have the strongest and fastest impact.”
– KC Lincoln, Expert System CMO
