Blackbird Secures $20 Million Investment to Expand its AI-Powered Risk Management Solutions

New York-based startup Blackbird AI has successfully secured a $20-million Series B investment in its pursuit to bolster its AI-powered risk intelligence software. The funding round was led by Ten Eleven Ventures, with participation from Dorilton Capital, Generation Ventures, StartFast Ventures, and Trousdale Ventures, as well as various angel investors. The recent cash injection brings Blackbird’s total funding to $30 million.

CEO and co-founder Wasim Khaled expressed to TechCrunch the company’s mission of harnessing technology for the greater good of society. He identified disinformation as a major global threat, noting how easily individuals fall prey to online falsehoods and conspiracy theories. Founded in 2017, Blackbird’s initial product was an algorithm designed for network analysis and adversarial cohort modeling. It was initially employed by the U.S. Department of Defense for evaluating online propaganda and influence campaigns across high-profile websites.

With the onset of the pandemic, which led to cuts in Blackbird’s Defense Department contracts, the company pivoted its focus to the enterprise. It revamped its backend systems and added tools for ingesting and normalizing various forms of data, including text, images, video, and audio, culled from social media, news outlets, and the dark web, among other sources.

Blackbird’s solutions empower organizations with the ability to detect cyber information attacks, such as mass deepfake campaigns, and equip IT teams with the tools to counter influence operations. Users can dive into granular information like content sharing patterns of specific actors or emerging narratives in active discussions. Moreover, the platform provides heat map visualizations that track the flow of narratives, including toxic ones, across social media. It flags potential bot accounts and analyzes the influence of high-profile individuals on these narratives.

Although machine learning algorithms possess shortcomings, Blackbird seeks to help leaders counter misinformation, address aggressive complaints, and preempt backlash. According to Khaled, the platform not only aids in threat mitigation, but also supports business growth by monitoring industry trends and competitors while fostering media relationships. Blackbird also assesses the effectiveness of communication strategies, offering actionable insights for improvement.

As the economy becomes increasingly digital, the risk management software sector is projected to be worth $86.53 billion by 2030, up from $27.80 billion in 2021. A Deloitte report revealed that over half of companies plan to invest in technology, such as analytical and brand monitoring tools, to mitigate reputation risks. Despite confronting competitors like Graphika, Logically, and Cyabra, Blackbird stands to benefit from the growing demand for robust risk management solutions.

Although the number of Blackbird’s clients remains undisclosed, Khaled emphasized the escalating threats from disinformation and resulting negative impacts on organizations’ reputation and operations. As technology advances and the world becomes more unpredictable, Blackbird is poised to leverage its strength in mitigating cyber threats.