Afiniti, a D.C.-based firm that deploys its artificial intelligence platform in the customer service space, has closed a $130 million Series D round that values the company at $1.6 billion, according to TechCrunch.
The valuation places the company, led by CEO Zia Chishti, in the rarified air of unicorn status — that is, a privately held startup valued at more than $1 billion.
That distinction may not hold for much longer, however. Chishti — co-founded the company behind teeth-straightening powerhouse Invisalign — told the Washington Business Journal in June he was eyeing an initial public offering within a year. At the time, Chishti said the company was “weeks” away from profitability.
Afiniti — which keeps a footprint in 18 countries — moved its headquarters to 1701 Pennsylvania Ave. in July. Its investors in the new round include Washington Post CEO and Publisher Fred Ryan, Verizon Inc. CEO Ivan Seidenberg, Global Asset Management, The Resource Group and Zeke Capital,…Read the full story from the Washington Business Journal.