Monitaur, the premier model governance software company for highly regulated companies and their partners, secures $6million in series A round funding 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.
Anthony Habayeb, CEO and co-founder of Monitaur said, “Awareness of AI risks and the importance of governance were not fully appreciated when we founded Monitaur in 2019, 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.”
It’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.
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With it, companies can accelerate innovation with clarity and confidence in the transparency, performance, fairness, safety, and compliance of their modeling systems.
John True, Partner at Cultivation Capital and leaders of this milestone funding said, “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, We are excited to partner with Anthony and the Monitaur team to bring their solution to more customers.”
It’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.
