Irish AI analytics start-up Brightflag raises $1.5m in funding

Firm has raised $2.6m in last 18 months, with backers including Frontline Ventures

Alex Kelly and Ian Nolan, co-founders of Brightflag

Alex Kelly and Ian Nolan, co-founders of Brightflag

 

Brightflag, an Irish artificial intelligence (AI) analytics start-up, has raised $1.5 million (€1.26m) in a funding round led by Frontline Ventures and Tribal VC. The company, whose clients include Uber and Australia’s biggest telco Telstra, says it will use the financing to continue its expansion into the US and Australian markets, and to further development its technology platform.

Brightflag’s software uses text analysis to read and understand legal invoices. This information can then be used to generate greater savings for big corporates who typically spend many millions on legal fees.

The company has raised $2.6 million over the last 18 months, following a $1.1 million funding round last year led by Tribal VC and 500 Startups.

Established in 2015, the start-up employs 36 people across offices in Dublin, London, Sydney and New York.

“We’re excited to be working with such great investors as we continue to expand and grow our customer base across the US and the UK,” said Brightflag chief executive Ian Nolan.

“We’re at an inflection point in the legal industry – where new technologies are driving change and transparency in a way that wasn’t possible before. We are part of that movement.”