British sound recognition company Audio Analytic announced that that it has raised $12 million in a Series B financing round.
The company secured the new funds from Cambridge Innovation Capital, IQ Capital and new investor, National Grid Partners.
With the new capital raised, Audio Analytic intends to back its core technology and internet protocol, further extend the number of sounds and scenes that its customer’s products can recognise.
Furthermore, the company, with around $2 million in revenue annually, has raised a total of $20.2 million in over seven funding rounds.