AI And Robotics Firm Neurala Expands In Boston With New Seaport Offices, Executive Hires
Following recent $14M funding round, Neurala brings on seasoned entrepreneur and investor Warren Katz as president to guide global corporate expansion
BOSTON, MA —June 15, 2017— Extending its commitment to Boston, deep learning neural networks vendor Neurala has just opened its new offices in the Boston Seaport as it continues its expansion, both locally and globally. To help manage the company’s growth, CEO Massimiliano “Max” Versace has brought on entrepreneur and investor Warren Katz as president as the company increases its offerings in the drone, autonomous vehicle, security and consumer electronics spaces. Versace will remain chief executive officer, focusing on corporate, product and technology vision and strategies.
To further strengthen the executive team as the company adds to its research, development, sales and marketing teams, Neurala is also announcing the addition to its leadership ranks of Hoon Chung, vice president of business development.
“Warren and Hoon will be tasked with creating and filling several new key positions and accelerating the transformation of the company into a customer-focused vendor of powerful, robust, easy-to-use AI software tools and services,” said Versace. "Their deep knowledge of the company and operational experience with companies that closely resemble Neurala make them ideal choices as Neurala evolves from a deeply academic, research-focused company into a customer-focused product company,” Versace explained.
Versace added, “Additionally, with the increased requests for our technology in unmanned systems—for both civilian and defense uses—Warren will play an essential role in supporting Neurala's aggressive goals in these areas." He said that with Chung’s global operating experience with Fortune 500 customers, his focus will be on global expansion and identifying and addressing global customers’ issues.
"After five years in blissful quasi-retirement, angel investing and mentoring startups, I have been lured off the sofa by one of my most successful portfolio companies,” said Katz. “The leadership team is doing a fabulous job, and I'm delighted to be adding a little seasoned business experience to the mix."
Chung explained that delivering game-changing “real world” solutions to enterprise clients to enhance their competitive edge and productivity around the globe will be his primary focus. “My priorities will be to stay close to customers, listening carefully, understanding their challenges and helping them to solve operating challenges through Neurala solutions.”
A New Headquarters and Global Expansion
To accommodate the additional staff, Neurala has moved into a new, 8,000-square-foot headquarters at 51 Sleeper Street, near South Station and the new world headquarters for General Electric. In addition, Neurala is opening later this month a satellite office in Silicon Valley, with future expansion of research and business development support planned for Europe.
"We applaud Neurala for its commitment to Massachusetts and the innovative work they are doing to make our autonomous world the safest and smartest possible,” said Katie Stebbins, Assistant Secretary of Technology, Innovation and Entrepreneurship, Commonwealth of Massachusetts, EOHED. “We look forward to many exciting developments from Neurala as it continues to expand, hire and to develop the artificial intelligence applications that will further enhance our daily lives and make businesses even more productive."
Said Tom Ryden, MassRobotics executive director, “Neurala's move illustrates how the Seaport is becoming a hotbed of robotics activity that now includes AI and everything from self-driving cars to drones. With Neurala’s hardware-agnostic approach, they can work across many of these platforms, making them smarter. It will be great to have the company in the neighborhood.”
Neurala, Inc. (https://www.neurala.com) is a software company that developed The Neurala Brain—deep learning neural network software that makes smart products like robots, drones, toys, self-driving cars and smart cameras more autonomous, engaging and useful. Neurala provides off-the-shelf and customized solutions ranging from high-end applications to inexpensive everyday consumer products. With the Neurala Brains for Bots Software Development Kit (SDK) and an ordinary camera, products can learn people and objects, recognize them in a video stream, find them in the video and track them as they move. The Neurala Brain is based on technology originally developed for NASA and the U.S. Air Force. Current customers include Motorola Solutions, Parrot and Teal Drones. Follow Neurala on Twitter at @Neurala and on Facebook, YouTube and LinkedIn.
for Neurala, Inc.
Alessandra Nagy, 714-310-4439