October 27, 2023 at 12:01AM
Enterprise AI security and trust software firm, Cranium, has raised $25 million in Series A funding led by Telstra Ventures, with participation from KPMG LLP and SYN Ventures. The funding will be used for innovation, research and development, and business expansion. Cranium aims to provide unparalleled visibility, trust, and security in the AI ecosystem of organizations.
Meeting takeaway:
– Cranium, the enterprise AI security and trust software firm, has successfully raised $25 million in Series A funding.
– The funding round was led by Telstra Ventures and included participation from KPMG LLP and SYN Ventures.
– This new round brings Cranium’s total funding to $32 million.
– The funds will be used for innovation, research and development (R&D), and business expansion.
– Cranium aims to strengthen customer momentum and accelerate the development of its Cranium Enterprise software platform.
– The company also plans to invest in R&D to enhance the security, regulation, and compliance of AI/ML environments.
– The funding will support the growth of Cranium’s teams and provide additional support to its customers.
– Cranium focuses on providing visibility, trust, and security in AI-enabled products and services.
– Their software addresses the gap between data science, compliance, and cybersecurity teams by providing a single source of truth for AI security risks.
– Cranium’s unique design and features, along with its partnerships, give it an advantage in the cybersecurity market.
– Telstra Ventures sees Cranium as a leader in AI security and trust software, addressing the urgent needs of enterprises in AI regulation, compliance, and security frameworks.
– Cranium works with global leaders in various industries, including health sciences, financial services, consumer packaged goods, and retail.
– The company was incubated and funded within KPMG’s startup incubator.
– Cranium’s mission is to secure the AI revolution and help organizations secure their AI technologies.
– Telstra Ventures is an investment firm that fuels the growth of disruptive companies, with a portfolio that includes notable companies such as Auth0, BigCommerce, and CrowdStrike.
– Telstra Ventures has driven over $500 million in revenue for its portfolio companies through its Revenue Acceleration Platform.
– As of 2022, Telstra Ventures has $1 billion in funds under management.