LOS ANGELES, June 16, 2016 /PRNewswire/ -- Armorway, a leading provider of advanced data analytics solutions, today announced that it was awarded Red Herring's Top 100 North America award in recognition as a leading private company with noteworthy innovations and technologies in artificial intelligence (AI) and prescriptive analytics.
Red Herring's Top 100 America recognizes outstanding entrepreneurs and promising companies. It selects the award winners from approximately 1,200 privately financed companies each year in the US and Canada. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, Palo Alto Networks and eBay would change the way we live and work.
"In 2016, selecting the top achievers was extremely difficult," said Alex Vieux, publisher and CEO of Red Herring. "The variety, depth, disruption and traction we saw from the early stage companies to those with significant scale made it one of the toughest vintages to judge. The North America winners are representative of the amazing ecosystem that never ceases to astound, with new and experienced entrepreneurs continuing to push the barriers of innovation. As one of the winners, Armorway should be proud of its accomplishment under such strong competition."
Red Herring's editorial staff evaluated companies on both quantitative and qualitative criteria, such as financial performance, technological innovation and intellectual property, DNA of the founders, business model, customer footprint and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the "buzz" and make the list a valuable instrument of discovery and advocacy for the most promising new business models in North America.
Armorway recently completed a $2.5M seed round of financing for its AI platform that delivers descriptive, diagnostic, predictive and prescriptive analytics with cognitive intelligence and deep machine learning to dynamically understand and respond to all types of security threats. It is continuing to continue product development in the cyber-physical enterprise space and to expand its customer base and R&D team which includes data scientists, AI and machine learning experts and engineers.
Characterized by techniques such as graph analysis, simulation, complex event processing, neural networks, recommendation engines, heuristics and machine learning, Armorway's solution is in a category of advanced analytics which examines data or content and advises actions for desired predictable outcomes.
"Armorway is honored to be recognized as a leading company by Red Herring and to be awarded based on our company's achievements in cognitive intelligence, security and connected technology," said Armorway CEO and co-founder Zareh Baghdasarian.
Headquartered in Venice, California, Armorway was founded in 2013 and develops products that bridge the gap between data and decisions, as well as human intuition and machine intelligence. The Company's intelligence systems help organizations learn a data environment in order to make dynamic decisions based on desired outcomes. The core technology was developed in partnership with the University of Southern California through grants from the Department of Homeland Security, Department of Defense and the US Army Research Office.
JoAnn Yamani, Esq., APR
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