Networked Insights announced that it has received $30 million in an investment round led by Sands Light Capital and the Cherng Family Trust. The company plans to use the money for continued development in deep learning and artificial intelligence, as well as to support international expansion, new partnerships and acquisitions, and growth in its marketing and sales operations.
According to a report in Crain's Chicago Business, the lead investors are family offices for a co-founder of Arizona Iced Tea and the founders of Panda Express, respectively. Goldman Sachs, American Family Ventures, 4490 Ventures, Kegonsa Seed Fund and additional private investors also participated in the round.
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