Foley Represents Accern in $20M Series B Funding Round

Foley & Lardner LLP represented Accern, which uses artificial intelligence (AI) to analyze online conversations around particular companies, trends, and industries, in its $20 million Series B funding. The round was co-led by Mighty Capital and Fusion Fund alongside Tribe Capital, Shasta Ventures, Gaingels, and others.

Accern provides AI-powered apps and natural language processing (NLP) models trained to recognize, classify, and extract domain-specific financial language. The service can scan public sources, including news publications, blogs, and SEC filings, to gauge consumer sentiment or predict how supply chain disruptions might impact a business. Accern also offers a visual dashboard users can tap to build custom AI-powered apps and pre-built taxonomies that cover companies, people, places, and themes. 

Accern was established in 2014 and has raised $35 million in capital to date. The company currently has 80 employees, with plans to grow its employee headcount to 100 by the end of 2022.

The Foley team was led by Partner Natasha Allen and included Associates Ashley Lee and Saige Gallop.