Atlantic Bridge led a round for NUI Galway-founded organisational data investigation spinout Siren, having backed the company's seed round through its University Bridge Fund.
Siren, an Ireland-based data investigation platform developer spun out of National University of Ireland Galway, secured $10m on Thursday in a series A round led by growth equity fund Atlantic Bridge.
State-owned enterprise support agency Enterprise Ireland also participated in the round together with business-to-business-focused venture firm Frontline Ventures and early-stage VC vehicle DVI Equity Partners.
Founded in 2014, Siren has created technology that enables business and government clients to run real-time analytics on large data flows, with a focus on the financial services, life sciences, operational intelligence, law enforcement and telecommunications sectors.
The software combines artificial intelligence-driven methodologies such as predictive analytics and natural language processing in a single user interface, and also plugs into an open-source analytics engine called Elasticsearch to facilitate advanced applications.
Siren was founded by Giovanni Tummarello, who led NUI Galway research into data-intensive infrastructure applications from 2007 to 2014.
Bob Griffin, managing partner of DVI Equity Partners, has joined the company’s board of directors in connection with the round.
University Bridge Fund, the spinout-focused VC fund formed by University College Dublin and Trinity College Dublin under Atlantic Bridge’s management, led Siren’s $3.7m seed round in February 2018.
Frontline Ventures and seed-stage fund Growing Capital had both previously backed the company, though details of their investments have not been publicly disclosed.