TAIGER, a visionary Artificial Intelligence (AI) company pioneering next-generation AI solutions, has today announced the successful closing of its Series B funding round of US$25 Million. After the investment, the valuation of the company will reach US$110 Million.
TAIGER’s AI solutions use human-like logic to automatically read, understand and extract information, overcoming the limitations of traditional Machine Learning, including data availability, bias and quality, and guaranteeing unrivalled levels of accuracy.
This fundraising round sees TAIGER’s investment footprint continue to expand in Singapore, and to broaden into greater Asia, the United States and Latin America specifically Mexico. Anchor investor SGInnovate has further committed funds to accelerate TAIGER’S growth in its home country. The fundraising was led by PacificBridge Asset Management, a Korean and American joint venture affiliated with TPG Capital, and MCM Investment Partners, a global merchant bank and asset management firm headquartered in Hong Kong.
“This investment marks a major milestone for TAIGER following 2.5x year-on-year revenue growth. We expect to see this momentum continuing for the next few years. We recently expanded into the legal sector, where we see tremendous opportunity, and we expect to close a number of new international clients later this year, further strengthening our global reach,” said Sinuhé Arroyo, Founder and CEO, TAIGER.
“We have been partners with TAIGER since its launch and we are delighted to be a leader in this latest fundraising round. With this funding and TAIGER’s innovative technology, the company is well-positioned to capture growth in the vast and explosive AI industry. We look forward to continuing to work with the company and its excellent team to realise its global ambitions. An interesting aspect of this fundraising is the participation by strategic investors in Mexico, which is unique for a Singapore-based corporate, and demonstrates the increasing mutual interest between South East Asia and Latin America,” said Adrian Valenzuela, Co-Founder and CEO, MCM Partners.
“We are excited to see the great strides made by TAIGER since being accredited two years ago. We share the same vision with Sinuhé and have high expectations for TAIGER. This fresh investment round will help them realise their growth aspirations to be a leading AI company and we look forward to partnering with them in their growth journey,” said Edwin Low, Director of Enterprise Growth Acceleration, Infocomm Media Development Authority of Singapore.
The funds will be used to further increase the company’s geographic footprint with plans to launch in South Korea and Japan and to increase its footprint in South America.
TAIGER is headquartered in Singapore with offices in Hong Kong, New York, Madrid, Mexico City and Dubai. The company’s clients are mainly in the financial services and government sectors worldwide, with recent expansions into the legal and technology industries.