Primer announces $69M in Funding to Accelerate AI-Enabled Information Advantage
Next phase of growth further drives reliable and game-changing AI capabilities for Government and Commercial customers
SAN FRANCISCO, June 14, 2023 /PRNewswire/ -- Primer Technologies, an AI/ML technology firm specializing in AI-powered data analysis, today announced a Series D round with a first close of $69M to accelerate the delivery of trusted AI solutions for the U.S. Government and Commercial customers. The company also announced Sean Moriarty's recent appointment as CEO, who brings decades of technology and leadership experience, previously holding senior executive roles at the Leaf Group, Ticketmaster and Metacloud. The funding was led by Addition, with participation from the U.S. Innovative Technology Fund (USIT), founded by chairman Thomas Tull.
This funding enables Primer to accelerate R&D of generative AI and cutting-edge machine learning models, grow its talent, and continue to mature its product offering. With customized Large Language Model functionality already integrated in its secure offering, Primer is transforming how analysts, operators and decision-makers make sense of massive volumes of open source and proprietary data and reduce time to decision. By automating manual tasks and workflows, they can be more productive, seize every efficiency, and apply their unique expertise to find the advantage hidden in their data.
"Primer's AI platform and products deliver necessary tools to those who support and defend our democracy and this round of funding will help us deliver more, faster," said Sean Moriarty, CEO of Primer. "We're committed to providing trusted, reliable AI solutions to achieve the most critical of missions."
Sean Moriarty has more than 25 years of experience in B2B and B2C technology businesses, leading multiple companies to scale and commercial success. He is currently the lead independent director at Eventbrite and has served on the board of directors of over a dozen companies, both privately held and publicly traded. He serves as Ambassador to the Special Operations Warrior Foundation and is the former Co-Chair of the Pat Tillman Foundation.
"This new round of funding and the company's new leadership strengthen Primer's industry-leading position and its ability to deliver advanced AI applications for Government and Commercial customers," said Lee Fixel of Addition. "Sean's experience building strong teams and success bringing disruptive technologies to market make him the right leader to drive Primer's continued growth and innovation."
"AI is revolutionizing the defense space, from intelligence gathering and threat analysis to decision support systems," said Peter Tague, Managing Partner of USIT and member of Primer's board. "Primer is developing cutting-edge decision support technology for national security and military organizations that has mission critical applications. We're proud to support Primer as they continue delivering competitive advantages for the United States and its allies."
Today's announcement builds on Primer's ongoing success in delivering practical AI solutions to its customers. Since 2020, Primer has worked with USSOCOM, Air Force and Army officials to develop and enhance the machine learning capabilities of our forces, from mission planning and predictive logistics to speeding up intelligence and decision cycles. In parallel, it delivers solutions to Fortune 100 companies looking to make sense of their data in order to seize every efficiency and reduce time to insight and decision-making.
The company recently launched the Primer Delta platform, a self-curating knowledge base that can analyze millions of documents in seconds. Deployable on-premises and in the cloud within hours, analysts can securely search through large-scale document caches and databases to extract the information that matters. Organizations looking to experiment with a smaller batch of documents can now procure Delta Lite directly from AWS Marketplace. Primer's native AI platforms Primer Delta and Primer Command are powered by its proprietary NLP technology, which is built on transformer-based neural networks, making its solutions models faster, more accurate, and customizable to customer data and workflows.
About Primer
Primer exists to make the world a safer place. We believe that AI is critical to accelerating intelligence and decision cycles that keep us safe. Our AI technology is deployed by the U.S. Government, strategic allies, and Fortune 100 companies to extract timely insight and decision advantage from massive datasets. Primer has offices in Arlington, Virginia and San Francisco, California. For more information, please visit https://primer.ai/
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