Galway firm Siren raises funds in efforts to expand to new sectors.
Data intelligence company Siren has successfully secured €3m in a seed round to aid in the deployment of its semantic data investigation technology in new sectors, as an addition to its existing work with law enforcement agencies.
Headquartered in Galway, Siren also has offices in Dublin, Cambridge, Bordeaux, France and Trento in Italy. The investment round was led by the University Bridge Fund, which invests in companies built from world-class research.
A unique approach to data
Giovanni Tummarello, founder and chief product officer, said: “Our unique semantic approach enables fast responses to complex data investigation challenges. Our initial focus has been on working with national security services and police, where the mission-critical investigation of data is often done under intense time pressure.”
Tummarello added that these data investigation capabilities had not been easily accessible in other sectors, but Siren was “now working with some of the largest financial and life sciences organisations to enable cross-dataset real-time investigation”.
Siren’s platform leverages relationships across numerous datasets, creating meaningful and accessible data along with dashboard analytics, knowledge graphs and real-time alerts.
John Randles at the helm
Siren has also announced the appointment of John Randles as CEO.
Randles was CEO of PolarLake between 2006 and 2012, and remained CEO following the company’s sale to Bloomberg in 2012, when the former became the heart of the Bloomberg’s data management utility. Before joining PolarLake, he was CTO of Siebel Systems’ banking division, and previously served as CTO of multichannel retail banking software vendor Eontec.
Randles spoke of Siren’s unique capabilities as a company: “Data is becoming a recognised asset in every firm in every industry but there is widespread frustration when it comes to solving problems with data.
“Siren’s data investigation capability meets that need in a way I have never seen in 20 years in the industry.”
Gerry Maguire, general partner at Atlantic Bridge, said: “On behalf of Atlantic Bridge, I am delighted to join the Siren board and be an active investor and partner to the team, who we believe have developed cutting-edge data intelligence technologies.”
Maguire also complimented the calibre of research undertaken at NUI Galway, “which is at the core of Siren’s technology platform”, describing it as “an impressive example of how companies can leverage the outputs of Irish research to create unique solutions that solve complex problems for customers globally”.