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Logically Announces $24m Funding Round

Logically, a technology company using advanced AI to tackle harmful mis- and disinformation, today announced the completion of a $24 million funding round led by growth investor Vitruvian Partners. The round also included investment from the Amazon Alexa Fund, and existing seed investors XTX Ventures and the Northern Powerhouse Investment Fund (NPIF), managed by Mercia Asset Management Plc.

 

Logically will use the funds to scale its capabilities and drive growth across its three core markets in the US, UK and India. The investment enables Logically to accelerate its technologies across AI, machine learning and OSINT, and stay at the forefront of the fight against harmful and misleading online information and conspiracy-driven threats in critical areas such as election integrity, public health and national security.

 

Online mis- and disinformation continues to cause significant real-world harm. In the past year we have seen the results of democratic elections questioned, COVID-19 vaccine take-up stall, and the rise of violent extremism fueled by conspiracy ideology. It has been estimated that fake news is costing the global economy around $78 billion every year. Increasingly governments, organizations and platforms are recognizing an urgent need to tackle harmful and misleading online content, a need further compelled by the growing disinformation-for-hire industry intent on spreading false information for financial or ideological gain. 

Lyric Jain, founder and CEO of Logically, said:

I am delighted to announce our latest fundraising round led by Vitruvian Partners. Vitruvian’s experience supporting high-growth and innovative technology companies globally will be invaluable as we continue to scale up our capabilities and operations. Given the evolving threat landscape and the increasingly sophisticated technology being used by adversarial actors, this investment will help us continue to stay at the forefront of the fight against misinformation, funding further research and development of end-to-end technology solutions that really break down and combat information threats.” 

Peter Read, Cortex Partner at Vitruvian, said:

We are pleased to partner with Logically, who have a clear and compelling mission to reduce the harm caused by mis- and disinformation, and to enhance civic discourse. We’ve been impressed by Logically’s development over recent years, in the public and private sector as well as with the social media platforms themselves. We look forward to supporting Logically’s expansion into new geographies and sectors in order to increase the impact they can have on this global problem.” 

2021 was a year of significant growth for Logically; the company saw large increases in headcount, revenue and in its client roster. In March 2021, Logically launched its flagship, end-to-end threat intelligence platform, Logically Intelligence, offering both analytical capabilities and countermeasure deployment to tackle mis- and disinformation. 

 

In 2021 Logically announced official fact-checking partnerships in the UK with major social media platforms, TikTok, Facebook and Instagram. Outside of the UK, Logically accelerated its operations in the US with its first senior hires, including former Department of Homeland Security senior official, Brian Murphy. In India, Logically launched Logically Health; a multi-pronged initiative designed to help public and private sector healthcare organizations better identify and manage harmful health misinformation. 

 

Over the course of last year, Logically conducted a number of high-profile and impactful investigations, including unearthing anti-vax campaigns targeting schoolchildren and US citizens. The company has also published industry-leading research into how the climate change misinformation landscape had been impacted by COVID-19-related conspiracies, as well as the novel phenomenon of closed groups and their role in coordinating COVID-10 anti-vax activity

 

Logically approaches the issues of mis- and disinformation from an end-to-end perspective, with Logically Intelligence able to find, triage and respond to information threats across over 120 million domains and over 40 major and emerging social media platforms at speed and at scale. Following the closure of this funding round, Logically is continuing to develop these cutting-edge monitoring, analytical and countermeasure capabilities, including addressing multimedia content, tracking emerging narratives, identifying coordinated inauthentic behavior and formulating effective and streamlined responses to threats. 

 

About Logically 

Founded in 2017 by MIT and Cambridge alum Lyric Jain, Logically combines advanced AI with human intelligence and expertise to tackle harmful and problematic online content at scale. The company’s mission is to enhance civic discourse, protect democratic debate and process, and provide access to trustworthy information. We are proud supporters of free speech, and oppose censorious approaches to individual expression online. However, where misinformation has the ability to cause real world harm, or when disinformation is being used for profit or political gain, this activity needs to be identified, mitigated and addressed.

In 2021, Logically was named one of the world’s most innovative artificial intelligence companies by Fast Company and won the Rising Star in Tech CogX Award. The company has offices in the U.K., U.S. and India. For more information, please visit Logically.

 

About Vitruvian Partners 

Vitruvian is an independent growth capital firm headquartered in London with offices across London, Stockholm, Munich, Luxembourg, San Francisco and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries spanning information technology, financial services, life sciences & healthcare, media, and business and consumer services. Vitruvian is currently investing from its fourth fund, the €4.0 billion Vitruvian Investment Partnership IV, which is among the largest pools of capital in Europe supporting innovative and higher growth companies. Vitruvian Funds have backed over 45 companies and have assets under management of approximately €10 billion. Notable investments to date include global market leaders and disruptors in their field such as Darktrace, Skyscanner, Marqeta, Wise, Bitdefender and Trustpilot.

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