SAN FRANCISCO, CALIF., & LYON, FRANCE – June 20, 2017 – The CoSMo Company, a software publisher specialized in the production of solutions, decision management, based on methodologies of intelligence increased combining human expertise and the modeling of complex systems, announced today that it has raised 3 Million in a round of follow-up, and that it will continue its development with a new visual identity and a new name : Cosmo Tech.
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This round of funding was driven by the fund Sofimac Partners, already present in the capital with Aster Capital and agricultural Credit, and is among the new entrants, BNP Paribas Development.
With this new tour, Cosmo Tech has raised a total of 6.7 Million from 2014.
Cosmo Tech is at the forefront of the emerging field of intelligence increased, a set of technologies whose purpose is to combine human intelligence with that of machines, and, by this means, to overcome the limitations of both the one as the other. Cosmo Tech offers solutions for decision management, which bring a level of intelligence never reached decision-makers by combining human expertise with the modeling of complex systems, allowing to simulate all the scenarios that they may face.
The solution of decision management of Cosmo Tech can take into account the phenomena emerging new behaviors or scenarios arising from the interactions of various systems as well as cascading effects the effects induced by a decision via the interconnections of a complex system. The offer of Cosmo Tech brings clarity to the most complex problems, far beyond what would make any solution based on the data, including solutions based on Big Data. Indeed, it relies for information on the combination of human expertise and modeling complex systems rather than solely on the analysis of historical data. Unlike the artificial intelligence, the intelligence augmented does not replicate the human brain to a larger scale ; it combines, however, the knowledge of many experts with the power of the machine, making it emerge from the knowledge that no intelligence, human and artificial, could not identify one.
“I always tell our clients that what we do is not magic : it’s science coupled with incredibly advanced technology,” said Michel Morvan, co-founder and executive chairman, Cosmo Tech and general manager of Cosmo Tech USA. “But it is true that the power of what we do provide a holistic view of global interactions generated by their decisions and the probability that certain events occur, even if they have never occurred before can sometimes seem like magic ! ”
André Boisvert, independent member of the board of directors of Cosmo Tech and former director of marketing of Oracle, is very optimistic about the ability of the intelligence technology increased by Cosmo Tech to revolutionize the management of information.
“The management systems of relational databases (RDBMS) were revolutionary when they arrived on the market because it allowed application developers to create links between the data previously held in silos. There is no doubt that the RDBMS will continue to play an important role in the digital world. However, the need to model the relationships and to extract knowledge of value within complex systems classically thought of in silos, and many of which have been built with RDBMS, is going to take on a considerable importance. I am sure that Cosmo Tech is ideally positioned to meet this basic need. ”
Cosmo Tech has also used today’s announcement to make public its new brand and its new name. Cosmo Tech was created in Lyon in 2010 under the name of The CoSMo Company. It has raised 3.8 M during a tour in 2014, funded by Aster Capital, Sofimac Partners and Credit agricole. Since this round of financing, the company has doubled its turnover year after year, signing with new clients such as Alstom, GE, RTE, EDF and Sanofi Pasteur. The company has received numerous marks of recognition from the industry. For example, it was named Gartner Cool Vendor for Data Science in 2016, received the award for EY-Syntec corporate Digital of software the most innovative in France in 2016 and has been named a Red Herring Top 100 Europe and the USA in 2017.
Of the major actors of public services or transport as TEN or Alstom already rely on the solutions Cosmo Tech to plan for the impact of their decisions is the most critical, with a potential impact of tens of millions of euros. But, beyond that, the unique platform of Cosmo Tech can also produce applications for all the industries in which it is crucial to be able to understand and anticipate the cascading effects induced by the decisions taken.
“The possibility of replicating the interest and the success that we have in France the world market is huge,” said Hugues de Bantel, co-founder and managing director of Cosmo Tech. “The planning of the epidemics in the electrical networks and optimization of the smart cities, the leaders, regardless of their sector of activity, can increase their own intelligence and, in so doing, obtain a new level of understanding of the impact their decisions will have on all levels of their business. ”
About Cosmo Tech
Created in 2010 in Lyon by Hugues de Bantel and Michel Morvan, Cosmo Tech, formerly known as The CoSMo Company, has developed a tool for modeling and simulation that enable leaders to make optimal decisions on their of the most complex issues. Based on a software platform and a unique methodology, solutions, Cosmo Tech will take into account multiple factors and their interconnections in order to anticipate the consequences of potential choices. Actor of the transformation to a digital one, Cosmo Tech falls beyond the Big Data and artificial intelligence by providing managers with the only solution in the world of decision management that is capable of predicting realistically the impact of these decisions.
Today, Cosmo Tech is accompanying them in their transformation to a digital international leaders such as RTE, Alstom, GE, Total, EDF, Veolia, SNCF or Sanofi Pasteur.
For more information : http://www.cosmotech.com
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