October 26, 2023 at 12:57PM
Cranium, a company specializing in securing AI applications, has raised $25 million in Series A funding, bringing the total investment to $32 million. The funding was led by Telstra Ventures, with participation from KPMG and SYN Ventures. Cranium helps organizations ensure the compliance and trustworthiness of their AI and ML systems. The funds will be used for R&D and business expansion.
Key Takeaways from Meeting Notes:
1. Cranium, a company specializing in securing AI applications and deployments, has raised $25 million in Series A funding, bringing their total investment to $32 million.
2. The funding round was led by Telstra Ventures, with participation from KPMG and SYN Ventures.
3. The raised funds will be used for research and development (R&D) activities and expanding the business.
4. Cranium recently emerged from stealth mode after spinning out of KPMG.
5. The company helps organizations ensure the security and compliance of their AI and machine learning (ML) systems.
6. Cranium’s software platform, called Cranium Enterprise, provides organizations with visibility, security, and compliance across their AI systems.
7. The platform can also be used to collect and share information on the trustworthiness and compliance of AI models with third parties, clients, and regulators.
8. Jonathan Dambrot, CEO and co-founder of Cranium, emphasized the importance of prioritizing responsible AI from the beginning to avoid future compliance issues.
9. The meeting notes also mentioned other companies in the AI security space, including Innovation Sandbox, HiddenLayer, BeeKeeperAI, and CalypsoAI, who have also recently received funding.