ASI raises $325 million in Spark-led Series C at $3 billion valuation

ASI said it raised $325 million in a Series C led by Spark Capital, valuing the Boston-based operational AI company at $3 billion. The company said the funding will support a broader rollout of software designed to help operators anticipate disruptions in physical systems.

In its financing announcement, ASI said it will use the capital to accelerate deployments in energy, logistics and tactical-edge environments while expanding its AI research and engineering teams in Boston. The planned expansion would extend software the company says is already used in aviation, energy and defense operations.

ASI said affiliates of Citadel Securities, Meritech Capital, Craft Ventures, Energy Impact Partners and Andreessen Horowitz participated in the round. The company did not disclose whether the valuation was calculated before or after the new investment, how much each investor contributed or the resulting ownership stakes.

Formerly known as Air Space Intelligence Inc., ASI develops software designed to model physical operations. The company says its system uses continuous forward simulation, monitoring and optimization to project conditions hours, days or weeks ahead.

The software targets air traffic, power grids and military operations.