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US AI firm Digital Reasoning wins investment from StanChart's venture arm

US artificial intelligence firm Digital Reasoning has received investment from Standard Chartered Bank’s innovation, investment and ventures arm, SC Ventures, that brings its Series D-1 funding round total to US$40 million.

The artificial intelligence (AI) and machine-learning company will partner with Standard Chartered to expand its financial services product offerings in communications surveillance across Asia Pacific, the Middle East and other international markets.

The fresh funds will help it to expand into use cases within financial institutions that are adjacent to its core business of e-communications and voice surveillance for compliance, the company said.

It will also support the company's efforts to broaden its pre-trained model catalog, supporting growth in financial markets across Asia, the Middle East and Africa.

Digital Reasoning’s Series D-1 funding round had a first close last year, led by BNP Paribas with participation from Barclays, Square Capital, Goldman Sachs, Nasdaq, Lemhi Ventures, HCA, and the Partnership Fund for New York City. Macquarie subsequently invested in this funding round, with SC Ventures now being the latest investor to contribute.

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The firm opened its Asia-Pacific business office in Singapore in July.

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