Cork AI firm Altada raises €10m to expand and hire more than 100 staff

The new employees will be in the areas of quantum computing, engineering, data science, product development, blockchain engineering and cloud platform management

Founded by Allan Beechinor and Niamh Parker, Altada uses artificial intelligence technology so companies can make sense of the large volumes of data they collect. Picture: Clare Keogh

Cork firm Altada has announced today a $11.5m (€9.85m) funding round led by Rocktop Partners alongside Elkstone Partners and Enterprise Ireland that will support the hiring of over 100 new employees across the company's global network.

Founded by Allan Beechinor and Niamh Parker, Altada uses artificial intelligence technology so companies can make sense of the large volumes of data they collect. The company provides this technology within the fintech, finance, health tech, security, travel, entertainment and sports industries to overcome challenges and take control of their data.