WhizAI, a technology provider for the life sciences industry, announced it has raised $8 million to continue developing its vertically focused business intelligence platform. David Schwab, founder and managing director at Vertical Venture Partners, which led the funding round, said WhizAI’s strategy of using NLP, machine learning and data visualization to provide business intelligence to pharmaceutical, biotech, nutraceutical, food processing and other companies operating in the life sciences industry will become more common in other verticals.
“BI is another horizontal platform technology that needs to move to vertical-specific for customers to get the full value,” Schwab said. “Predictive and prescriptive analytics, the next phase of customer value from BI, cannot be fully realized without a vertical approach. This move from horizontal platforms to vertical solutions is the core theme of our venture fund. This vertical approach combined with a strong management team with deep BI experience makes this an ideal investment for Vertical Venture Partners.”
In addition to Vertical Venture Partners, other existing investors also participated in the funding round. This latest investment brings the total amount raised by the company to more than $15 million.