Written by Simon Thomsen
Sydney-based decision intelligence startup SourseAI has raised $3 million in Series A as it looks to expand in Europe.
The round was led by enterprise technology investors Centerstone Capital, with cofounder Luc Maasdorp joining the SourseAI board.
The startup, which now raised $5 million in total, has honed its focus since raising $1.5 million to help bosses make fewer calls based on their gut feeling.
Back then, Southern Cross Austereo (Triple M and Hits FM) was a key backer of the AI-based analytics startup, using Sourse to reveal audience behavioural insights amid ambitions to help C-suites make better decisions is the media, telco and utilities sectors.
Sourse is now helping telcos as a no-code AI solution to scrutinise mountains of data and create actionable business predictions at scale.
It’s now being used by several leading Australian telcos including Lebara, Kogan Mobile, Superloop, Mate and AGL (Southern Phone) mobile, giving them certainty by accurately modelling the outcomes of business decisions.
SourseAI CEO and cofounder Tanya Hyams-Young said the capital will see them focus on their global ambitions, initially in Europe, after launching in the UK late last year and landing their first British customer. They plan to increase the headcount there and double the size of the Australian-based R&D team.
