Altada raises $ 11.5 million for its data AI expansion

24m | Antoine Savvas

Data artificial intelligence platform Altada Technology Solutions has completed an $ 11.5 million funding round led by Rocktop Partners alongside Elkstone Partners and Enterprise Ireland.

With more than 70 employees in the United States and Europe, Altada focuses on the financial services, health, security and travel industries, helping organizations improve their decision making.

The new cash injection will support the hiring of more than 100 new employees at Altada’s global offices in quantum computing, engineering, data science, product development, blockchain engineering and cloud platform management, among others.

Irish Minister for Enterprise, Trade and Jobs Leo Varadkar said of the investment: “Altada is an excellent example of an innovative Irish company, capitalizing on the potential of new technologies and having a massive success. The announcement of over 100 new jobs is great news and will give Cork a real boost where most of the new jobs will be based. “

“We have taken an important step in the growth and evolution of Altada,” said Allan Beechinor, co-founder and CEO of Altada. “This funding is indicative of investor confidence in our successes and our unrivaled experience serving the financial services and security industries in particular.”

Over the past year, the company has opened offices in New York, San Francisco, Dublin, Malta and Barcelona, ​​and plans to expand to Austin, Texas and the APAC region “in the near future”.

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