ANN ARBOR—The Ann Arbor-based artificial intelligence and data analytics firm RXA announced that it had completed a round of funding backed by Stephen Polk, former R.L. Polk chairman and CEO, who now leads Highgate LLC, a private investment company in Birmingham.
The investment brings an injection of capital to RXA to assist in supporting its growth that has produced a 500 percenet increase in revenue over the past three years. The funding will primarily be used to support further business development and artificial intelligence solution expansion. In addition, Stephen Polk will join RXA’s board of directors.
Said Polk of his investment firm: “We’re not really in the deal business, it’s more about investing in, and waiting for a number of equity investments to mature. Every business goes through its own process of maturing. RXA fits this model perfectly and I am excited to support their growth.”
Added RXA CEO and founder Jason Harper: “Stephen’s background in data and analytics combined with his ‘people first’ mindset was extremely attractive to RXA and solidified our desire to evolve our relationship. We are looking forward to expanding our success with Stephen on the team for years to come,” said Harper.
RXA has a diverse portfolio of products and services, including customized artificial intelligence programs, implementation, and more. RXA is currently working for more than 70 customers in North America, Europe, and Asia.
More at http://www.rxa.io.