Monitaur, the Leading Model Governance Platform for Highly-Regulated Industries, Raises $6M Series A
May 13 2024 - 9:18AM
Business Wire
Monitaur, the premier model governance software company for
highly regulated companies and their partners, announced today the
closing of a $6 million Series A funding round led by Cultivation
Capital, with participation from Rockmont Partners and others
including Defy VC, Techstars, and Studio VC. This investment will
enable Monitaur to accelerate its growth and add talent across
functions.
"Awareness of AI risks and the importance of governance were not
fully appreciated when we founded Monitaur in 2019," says Anthony
Habayeb, CEO and co-founder of Monitaur. "Our vision has been
realized into an emerging market over these 5 years and, thanks to
our tremendous team and customers, we are uniquely positioned with
proven capabilities and scale for this moment."
Monitaur's platform helps highly regulated enterprises build
better AI and models that businesses, regulators, and consumers can
trust. The company delivers solutions that help enterprises and
their partners define, manage, and automate fundamental best
practices throughout the modeling project lifecycle. With Monitaur,
companies can accelerate innovation with clarity and confidence in
the transparency, performance, fairness, safety, and compliance of
their modeling systems.
"Among industries where regulating outcomes of high-impact
models is not new, Monitaur has created a product and culture that
enables companies to be innovative with AI while keeping
performance and safety at the core of the entire modeling system
lifecycle," says John True, Partner at Cultivation Capital and
leaders of this milestone funding. "We are excited to partner with
Anthony and the Monitaur team to bring their solution to more
customers."
Monitaur's more than 6x growth across revenue, customers, and
product utilization in 2023 offered a great platform for this
funding and continued growth. In particular, the company is excited
to continue serving the unique opportunities and challenges AI
brings to the Insurance industry. With major carriers like
Progressive Insurance as well as AI innovators like CAPE Analytics
and Nayya, Monitaur will continue to help industry and regulators
come together to responsibly deliver on the promise and potential
for AI to better insurance for all stakeholders.
About Monitaur
Monitaur is the premier model governance software that helps
highly-regulated enterprises build better AI and models that
businesses, regulators, and consumers can trust. The company
delivers solutions that help enterprises and their partners define,
manage, and automate fundamental best practices throughout the
modeling project lifecycle. With Monitaur, companies can accelerate
innovation with clarity and confidence in the transparency,
performance, fairness, safety, and compliance of their modeling
systems.
For more information, please visit https://www.monitaur.ai, and
follow us on LinkedIn at
https://www.linkedin.com/company/monitaur.
All brand names and product names are trademarks or registered
trademarks of their respective companies.
Tags: Monitaur, ML, AI, responsible AI, AI risk, regulatory
compliance, GRC, governance risk and compliance, machine learning,
artificial intelligence, AI governance, NAIC, AI regulation,
machine learning assurance, insurtech, insurance, property and
casualty, funding, Anthony Habayeb, Cape Analytics, Nayya, John
True, Cultivation Capital, Rockmont Partners, Studio VC, Techstars,
Defy VC.
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version on businesswire.com: https://www.businesswire.com/news/home/20240513721294/en/
Media: Susan Peich Monitaur 412.400.6911 s.peich@monitaur.ai