After increasing its customer base four-fold over the past 12 months, the developer of an AI-enabled operating system for composing software has secured $35 million in funding to accelerate global expansion.
Used by companies such as global food giant Cargill, Bank of Queensland (ASX: BOQ), Latitude Financial Services, Futurity Investment Group, Australian United, and North Melbourne Football Club, Clear Dynamics' aieos platform has an automated coding solution the company claims is around '20 times faster than today's software models'.
Co-led by Clinton Capital Partners and OIF Ventures, and joined by new investment from family offices and private investors, the raise is the latest milestone for Clear Dynamics which seeks to make clients more agile in their software development capabilities.
According to Clear Dynamics, customers are using aieos to consolidate disparate data sources, streamline and automate enterprise workflow and processes, and quickly build and deploy industry-specific applications.
“In the last two years, organisations and leadership teams across every industry have been forced to confront the limitations of their existing technology and business models,” Clear Dynamics founder and CEO Dan Beaty said.
“Many realise that their existing technology investments are tethered to past strategies—unable to easily adapt to today’s dynamic business landscape, characterised by increasingly frequent unplanned change and demand for more agile, data-driven decision making.”
The CEO and founder added that many organisations are “becoming hostage” to skyrocketing demand and cost for developer talent.
“Clear Dynamics data-first design principles break the over-reliance most enterprises have on developers,” Beaty said.
“We’re able to overcome traditional enterprise software bottlenecks far faster, and without relying on an army of scarce developers.”
For Clear Dynamics, the raise follows a busy year in terms of onboarding new talent, with the team now comprised of qualified leaders from a variety of organisations including Boston Consulting Group, Deloitte and LinkedIn.
Key hires over the last 12 months include:
- Rob Stone, former Xero director of operations for Australia and Asia, joined Clear Dynamics to accelerate its mid-market strategy.
- Jeremy Cooper, who previously led global marketing teams at Salesforce, Google Cloud, and LinkedIn, returned to Australia from Silicon Valley as the company’s first chief marketing officer.
- Richard Bamber, previously a partner at Boston Consulting Group (BCG), leads Clear Dynamics’ government, utilities & heavy industry teams.
- David Grunstein, previously head of customer experience & engagement at BNY Melon, and a partner at BCG, returned to Australia from the United States to lead Clear Dynamics’ Financial Services industry team.
- Jenny Wilson, who previously led Professional Services for Microsoft Australia and was a partner at Deloitte, leads Clear Dynamic’s education, healthcare & retail industry teams.
- Dr Dan Tait joined Clear Dynamics after more than three years at the UK’s national institute for data science and artificial intelligence, the Alan Turing Institute, to lead Clear Dynamics AI research initiatives.
“We’re incredibly proud of the team we’ve assembled,” Clear Dynamics executive chairman Ian Basser said.
“We’re not just attracting outstanding talent in Australia; we’re attracting world-class talent back to Australia – whose experience across various industries and regions puts us in a very strong position as we start to expand globally.”
Get our daily business news
Sign up to our free email news updates.
Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support