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Decision intelligence platform SourseAI lands AU$3 million series A funding to help European expansion

Decision intelligence start-up SourseAI has secured AU$3 million in Series A funding, bringing total capital raise to AU$5 million. The funding will help SourseAI develop the world’s leading AI platform for telcos, increase the size of its UK team, and double the size of its Australian-based R&D team.

SourseAI’s decision intelligence platform is a no-code AI solution built specifically for telcos. Its AI platform Atlas is used to scrutinize mountains of data and create genuine, actionable business predictions at scale. It also provides certainty by accurately modelling the outcomes of business decisions.

Built by a team of telco industry veterans and world-class data scientists, SourseAI is rapidly becoming the go-to AI tool in the telco sector. It is currently used by a significant number of Australian telcos including Lebara, Kogan Mobile, Superloop, Mate and AGL (Southern Phone) mobile.

SourseAI will now enter a global growth phase, focusing initially on Europe, starting with the appointments of industry experts Paul Jeffries as Chief Revenue Officer and Dr Bryan Eastwood as Chief Customer Office.

Backing from specialist professional services and enterprise technology investors, Centerstone Capital, validates the significant potential of SourseAI’s decision intelligence platform and its strategic positioning in the AI domain.

Co-founder of Centerstone and Former Managing Director of Global Strategy and Innovation for Deloitte, Luc Maasdorp, will join the SourseAI board to provide expertise and oversight.

Luc Maasdorp, Co-founder of Centerstone Capital comments: “SourseAI’s laser focus on the telco sector is a real strength in an investment market full of hype and noise about AI. We have great confidence in SourseAI’s team of industry experts and world-class data scientists. We look forward to working with SourseAI on its growth journey.”

Tanya Hyams-Young, CEO and co-founder of SourseAI comments: “Centerstone’s expertise in spotting and developing SaaS platforms to transform domains and sectors of service in the enterprise market, coupled with their ability to assist in developing partnerships with professional services gives us tremendous confidence to grow and become the gold-standard AI platform for decision intelligence.

Speaking about the value Atlas provides, Tanya says: “A lot of telcos are overwhelmed. They know they need to focus on the consumer but many don’t know how to make sense of the mountains of data they have or how it could be used to make more strategic decisions. Many are exploring AI but are making the costly and time-consuming mistake of trying to build their own AI-team in house.

“SourseAI was designed specifically for the telco sector so they can reap the rewards far sooner than building from scratch. As a no-code SaaS solution it will deliver massive benefits in just 90 days.”

About SourseAI:

SourseAI accelerates the performance of businesses by unlocking the power of data. Its cutting-edge decision intelligence platform, Atlas, leverages AI to enable executives to make better decisions and optimise their business outcomes using data. Since launching in 2019, SourseAI has rapidly grown to become one of the most exciting AI start-ups in the market, with customers and clients across Australia, New Zealand, Asia and the UK.

Lisa Baker is Group Editor for the Need to See IT Publishing Group. Lisa writes about HR, Technology, Health, the Environment and Business.
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