CORK, Ireland & NEW YORK--(BUSINESS WIRE)--Altada Technology Solutions, a global provider of artificial intelligence (AI) solutions that supercharge data-driven decision making in the financial services, travel/security and healthcare sectors, today announced its recent corporate accomplishments. The company that “brings AI to life” has achieved continued customer growth while undertaking an aggressive program of international expansion through offices in London and Malta, as well as new offices in the U.S., including a facility in San Francisco which opened today, February 15.
Altada’s Data Intelligence Platform integrates the first AI engine that leverages optical character recognition (OCR) and natural language processing (NLP) to analyze large volumes of structured and unstructured data. The company’s solution enables users to not only make sense of their information but to also gain meaningful market insights that drive competitive advantage. The comprehensive Altada platform addresses key market challenges in the areas of asset management, contract intelligence, due diligence for mergers and acquisitions (M&A), and safety and security for travel, as well as in healthcare sectors, in order to enable data-driven decisions.
Rapid customer and employee growth are facilitating Altada’s expansion, and the company has been described as “a startup to watch,” as well as the next unicorn, by the Irish technology media. From its founding in 2017, Altada has grown from just 15 to more than 100 employees, and its customers include Rocktop Partners. The company successfully raised $11.5 million in a venture funding round in Q3 of 2020 led by Rocktop Partners, with participation from Elkstone Partners and Enterprise Ireland.
Altada’s strategic expansion to San Francisco places the company at the heart of the AI industry in the U.S. and uniquely makes Altada one of the few companies that is transplanting Irish technology and brainpower to the States. “We’re a family-owned Irish company that is exporting our talents to the Bay Area because it is where the action is when it comes to AI,” commented Allan Beechinor, Altada CEO. “As such, we plan to become a key player in the emerging software ecosystem that makes up the Bay Area’s AI and fintech scene, and we are very excited about our growth potential moving forward.”
The company’s U.S. expansion will be driven by COO and Silicon Valley veteran Gabe Zingaretti, who will lead sales and operations efforts. Altada will have approximately 15% of its workforce in the Bay Area, given the region’s deep talent pool. “I’m excited to join such a high-growth company and bring Altada to the West Coast,” he commented. “This company has a powerful suite of AI-driven tools that deliver outstanding customer ROI. I know that we will be enthusiastically received by U.S. customers and the larger tech community.”
The Altada Solution
The Altada AI Platform empowers user organizations to leverage their complete data fabric to achieve extraordinary outcomes in automation and data-driven decision making. Altada is the industry's first multi-AI fintech engine that leverages optical character recognition (OCR) and natural language processing (NLP) in combination with best-in-class data engineering. The platform provides a complete view of the data supply chain through data ingestion, indexing, data remediations, and inference, which ultimately enables businesses to scale, increase profitability, and realize measurable business impact.
For customers in the financial services sector, Altada provides meaningful improvements in accuracy and speed. Rocktop Partners used Altada to reduce its processing time for financial loan file batches from four to six weeks to 48 hours and decreased the cost of processing its loan files by up to 90%.
According to Jason Pinson, CEO of Rocktop Partners, “Altada’s AI solutions have given our business a competitive edge in the market, thanks to transformational operational and cost efficiencies provided by their platform.”
Founded in 2017, Altada is a global provider of artificial intelligence (AI) solutions that supercharge data-driven decision making in financial services, travel/security and healthcare. The company’s Data Intelligence Platform integrates the first AI engine that leverages optical character recognition (OCR) and natural language processing (NLP) to analyze large volumes of structured and unstructured data, enabling users to not only make sense of their information but to also gain meaningful market insights that drive competitive advantage. Altada is headquartered in Cork, Ireland, and operates in 11 offices, including Dublin, Malta, London, New York, and San Francisco. Privately-held, Altada is backed by venture investment from Rocktop Partners, Elkstone Partners and Enterprise Ireland. To learn more, please visit https://www.altada.com/.