CHARLOTTE — Charlotte-based Stratifyd, Inc., a technology company that provides artificial intelligence-powered data analytics solutions to companies, has raised $20 million in equity, according to a Securities and Exchange Commission filing.
The $20 million was raised by three investors with the date of the first sale at the beginning of October. The offering has $5 million in equity still remaining to be sold for a total of $25 million. It did not disclose what it intends to do with the money.
Stratifyd is a rapidly-growing technology company that provides data science research-grade analytics solutions to companies worldwide. Its customers include companies such as Prudential, Etsy and Masco.
The company was built around the customer feedback loop to help businesses increase customer acquisition and retention.
In 2015, the company officially launched its first Fortune 500 customer, Lenovo. Three years later, the company has evolved from an AI platform to an end-to end customer engagement solution.
The company nearly doubled the number of employees, doubled the customer base and tripled revenue in 2017 leading them to relocate its headquarters in Charlotte.
“We’re very excited about the move,” said CEO and founder Derek Wang on the company’s website. “Our company grew rapidly in 2017 and will continue to grow rapidly in 2018. We needed space to accommodate this growth.”
In 2018, the Charlotte Business Journal named Stratifyd one of Charlotte’s best places to work.
Wang founded Stratifyd with Li Yu and Thomas Kraft while conducting government-funded research on how AI could ingest, analyze, and visualize unstructured data.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
