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Enterprise AI Startup indico Announces New CEO, Funding

BOSTON, Oct. 05, 2017 (GLOBE NEWSWIRE) -- indico, provider of an artificial intelligence and deep learning software platform for content applications within the enterprise, today announced the appointment of Tom Wilde as president and CEO. Wilde takes the reins from co-founder Slater Victoroff, who will now focus full-time on advancing the company’s technology platform and product vision.

The company also announced that it has raised an additional $1.5 million in investment funding, led by current investor .406 Ventures. The funding will be used to extend the company’s technology platform and add to its product offerings, building on indico’s early success in the financial services, insurance and legal industries.

Wilde comes to indico with a successful track record with early-stage companies. Most recently, he was with Cxense, where he served as chief product officer and general manager for Cxense Americas. Prior to that he was the founder and CEO of RAMP, which was acquired by Cxense in 2015. His background also includes senior executive roles at FAST Search & Transfer (acquired by Microsoft), Terra Lycos, MIVA and NameMedia. He holds an MBA from the Wharton School at University of Pennsylvania, and a Bachelor of Arts degree from Colby College.

“Tom has a proven track record in building high performance teams and transforming core technology advantages into successful and scalable business models in big market opportunities like we’re seeing in artificial intelligence,” said Graham Brooks, indico board member and partner at .406 Ventures. “His industry experience in online publishing, search, and content management is a great complement to the fantastic deep learning foundation that Slater and the indico team have built. The timing is right for him to help indico take that platform to the broader market and the company to the next level.”

“In a very active yet still nascent field, indico has succeeded in advancing the state-of-the-art in deep learning, creating an opportunity to build a great company,” said Wilde. “I’m excited to collaborate with Slater and the team here. We see some really compelling opportunities to apply the technology to some big business challenges at both our existing and future customers.”

About indico
indico has developed a state-of-the-art enterprise deep learning platform for text and image analysis that can be deployed in the cloud or on premise and utilized via a simple-to-use web service. This, for the first time, enables companies to automatically extract meaningful insight from unstructured data at scale regardless of their size or capability. Furthermore, indico’s platform capabilities also enable its customers to quickly develop highly accurate new custom models in a fraction of the time and effort that would be otherwise needed. indico is privately held and headquartered in Boston, MA. For more information, visit https://indico.io/.

Media Contact: Tim Walsh for indico 617.512.1641 timw@walshgroupmarketing.com

Source: indico