AI-powered Risk Assessment for Startups: Blackbird Secures $20 Million Series B Investment

AI-powered Risk Assessment for Startups

Introduction

In a bid to strengthen its AI-powered risk intelligence software, a New York-based startup has successfully secured a $20-million Series B investment. This funding round was led by Ten Eleven Ventures and Dorilton Capital, with participation from Generation Ventures, StartFast Ventures, Trousdale Ventures, and various angel investors. With this recent cash injection, Blackbird’s total funding now stands at $30 million. In this article, we will explore the company’s mission, its initial product, and its pivot to focus on the enterprise market. We will also examine the value of AI-powered risk management solutions in an increasingly digital economy.

Blackbird’s Mission and Initial Product

CEO and co-founder Wasim Khaled expressed Blackbird’s mission of harnessing technology for the greater good of society. He highlighted the global threat of disinformation and how easily individuals can fall victim to online falsehoods and conspiracy theories.

Blackbird was founded in 2017 with its initial product being an algorithm designed for network analysis and adversarial cohort modeling. This algorithm was used by the U.S. Department of Defense to evaluate online propaganda and influence campaigns across high-profile websites.

Pivot to the Enterprise

Due to cuts in its Defense Department contracts caused by the COVID-19 pandemic, Blackbird pivoted its focus to the enterprise market. The company revamped its backend systems and added tools to ingest and normalize various forms of data, including text, images, video, and audio sourced from social media, news outlets, and the dark web.

Blackbird’s solutions empower organizations to detect cyber information attacks, such as mass deepfake campaigns, and provide IT teams with the necessary tools to counter influence operations. The platform allows users to gain granular insights into content sharing patterns of specific actors or emerging narratives in active discussions. Additionally, heat map visualizations track the flow of narratives, including toxic ones, across social media. The platform also flags potential bot accounts and analyzes the influence of high-profile individuals on these narratives.

While machine learning algorithms have limitations, Blackbird aims to help leaders counter misinformation, address aggressive complaints, and preempt backlash. The platform not only aids in threat mitigation but also supports business growth by monitoring industry trends and competitors while fostering media relationships.

The Growing Demand for Risk Management Solutions

The risk management software sector is projected to be worth $86.53 billion by 2030, up from $27.80 billion in 2021. According to a Deloitte report, over half of companies plan to invest in technology, including analytical and brand monitoring tools, to mitigate reputation risks. Blackbird, despite facing competition, stands to benefit from this growing demand for robust risk management solutions.

While the number of Blackbird’s clients remains undisclosed, Khaled emphasizes the escalating threats from disinformation and the negative impacts they have on organizations’ reputation and operations. As technology continues to advance and the world becomes more unpredictable, Blackbird is well-positioned to leverage its expertise in mitigating cyber threats.

Conclusion

In conclusion, Blackbird’s $20-million Series B investment marks a significant milestone in the company’s pursuit of strengthening its AI-powered risk intelligence software. With a mission to combat disinformation and empower organizations with tools to counter influence operations, Blackbird’s pivot to the enterprise market positions it for growth in the expanding risk management software sector. As the demand for robust risk management solutions increases, Blackbird’s expertise in mitigating cyber threats becomes increasingly valuable. For startups and businesses in an increasingly digital economy, leveraging AI-powered risk assessment solutions like Blackbird can prove essential in protecting reputation and ensuring operational success.

For more information on Blackbird and its AI-powered risk management solutions, visit logiclabsai.com.