Private AI, a developer of privacy-preserving machine learning and natural language processing tools, announced that it has secured $3.15 million in seed funding to improve their product offering, expand the team, and accelerate their acquisition of domestic and international customers.
Private AI's customer base now ranges from startups to multi-billion-dollar companies, including financial institutions and conversational AI companies.
M12 Principal Priyanka Mitra said: "Companies of all sizes are under pressure to comply with customer data governance regulations and to protect sensitive data. In parallel, business digitization is accelerating, and more customer data unlocks more insights and enhanced AI/ML model training capabilities. We're thrilled to support the world-class team at Private AI as they augment their customers' data redaction and pseudonymization capabilities, improving enterprise security posture without sacrificing business intelligence."
Joining M12 and Forum Ventures in the $3.15 million seed round is pre-seed investor Differential Ventures, along with new investors Shasta Ventures, Hyperplane Venture Capital, and Parliament Angels.
Patricia Thaine, CEO of Private AI, said:
"This round of funding will help us provide organizations and their developers with world-leading easy-to-integrate tools so they can excel in this post-GDPR world."
"Our partners at M12 and Forum Ventures both have deep expertise in B2B SaaS and developer-focused tools, and their investment and counsel will be key to fuelling our growth."
