Torch.AI raises $30M for AI that unifies disparate enterprise data

Torch.AI, a startup developing "network-centric" AI to deliver big data insights, announced that it raised $30 million. The company plans to put the proceeds toward growth as it acquires new customers, particularly U.S. federal agencies in the national security realm, including those operating in high-risk environments. Most enterprises have to wrangle countless data buckets, some of which inevitably become underused or forgotten. A Forrester survey found that between 60% and 73% of all data within corporations is never analyzed for insights or larger trends. The opportunity cost of this unused data is substantial, with a Veritas report pegging it at $3.3 trillion by 2020. That's perhaps why the corporate sector has taken an interest in solutions that ingest, understand, organize, and act on digital content from multiple digital sources.