Vyasa Analytics Receives $1.8 million in New Funding from MassDevelopment’s Emerging Technology Fund
July 24, 2018
Funds to help company hire and scale infrastructure in Massachusetts
Vyasa Analytics, a fast-growing provider of innovative deep learning software and analytics for life science and healthcare organizations, announced today that it has received a $1.8 million loan from MassDevelopment’s Emerging Technology Fund. The company will use the funds to hire 18 additional employees in Massachusetts, and build out a GPU-based compute infrastructure in Boston.
Vyasa’s secure, highly-scalable deep learning software, Cortex, allows users to apply deep learning analytics to enterprise data. With Cortex, users can ask complex questions about large scale data types like text, images and chemical structures, and discover unexpected patterns, relationships and concepts across disparate sources.
MassDevelopment’s Emerging Technology Fund helps to grow technology and advanced manufacturing companies in Massachusetts. Since its creation in 2003, the fund has provided $73.1 million in loans and guarantees to help cutting-edge companies locate or expand in the Commonwealth.
"There is no better place in the world to build an AI-driven data analytics company than in Massachusetts, and we are honored to receive this support from MassDevelopment," said Dr. Christopher Bouton, founder and CEO of Vyasa. "Data is at the core of the life science and healthcare industries. We are helping these organizations apply novel deep learning analytics more effectively so that they can advance research and development and deliver better patient care."
"Vyasa Analytics is doing game-changing work in the deep learning space, and MassDevelopment is thrilled to support the company through its next stage of growth," said MassDevelopment President and CEO Lauren Liss. "Our Emerging Technology Fund is designed for companies like Vyasa, which have demonstrated innovation and proven market demand but need additional resources to keep the momentum going."
About Vyasa Analytics
Vyasa Analytics provides deep learning software and analytics for life sciences and healthcare organizations. Cortex is Vyasa’s secure, highly scalable software platform for collaborative knowledge discovery and data analytics. Using Vyasa’s proprietary Neural Concept Recognition technology, Cortex identifies trends and patterns across disparate data sources, empowering project teams to gain insights and drive better decision making. Learn more and watch the Cortex explainer video at www.vyasa.com.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2017, MassDevelopment financed or managed 377 projects generating investment of more than $4.3 billion in the Massachusetts economy. These projects are projected to create about 9,488 jobs and build or rehabilitate 1,863 residential units.