Total amount raised
$41.3 Millions
Latest funding date
7/1/2024
Location
Credo AI has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform specializes in AI governance, offering solutions that automate oversight and risk management.
Keep reading to explore the intricacies of Credo AI's fundraising journey and the investors backing this innovative platform.
What Is Credo AI?
Founded in March 2020, Credo AI is based in Palo Alto, California. The company was established by Eli Chen and Navrina Singh. With a team of 11-50 employees, Credo AI focuses on AI governance, providing solutions that help organizations manage AI risks and ensure regulatory compliance.
How Much Funding Has Credo AI Raised?
- Seed Round
- Amount Raised: $5.5M
- Date: October 2021
- Lead Investors: Decibel Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their AI governance platform and establish a market presence.
- Series A
- Amount Raised: $14.8M
- Date: May 2022
- Lead Investors: Sands Capital Ventures
- Valuation at Round: Approximately $50.5M
- Motivation Behind the Round: To scale operations and enhance product features to meet growing market demand.
- Series B
- Amount Raised: $21M
- Date: July 2024
- Lead Investors: CrimsoNox Capital, Mozilla Ventures, FPV Ventures
- Valuation at Round: $101M
- Motivation Behind the Round: To expand Go-to-Market efforts, enhance product innovation, and establish Credo AI as the central hub for AI governance.
Total Amount Raised: $41.3M. Current Valuation: $101M.
Key Investors
- CrimsoNox Capital
- Details: Founded in 2015, CrimsoNox Capital is a venture capital firm based in Singapore. The firm focuses on early-stage investments in innovative technology companies.
- Investment Focus Areas: Technology, AI, Fintech
- Notable Investments: Not publicly disclosed
- Mozilla Ventures
- Details: Mozilla Ventures is the corporate venture capital arm of Mozilla, established in 2022. It aims to support early-stage startups that align with Mozilla's mission of promoting an open and accessible internet.
- Investment Focus Areas: Technology, Privacy, Open Source
- Notable Investments: Not publicly disclosed
- FPV Ventures
- Details: FPV Ventures, founded in 2022, is a venture capital firm based in San Francisco. The firm invests in early-stage and growth-stage startups with a focus on innovation and technology.
- Investment Focus Areas: Technology, AI, Healthtech
- Notable Investments: Not publicly disclosed
- Sands Capital Ventures
- Details: Sands Capital Ventures is a venture capital firm that invests in high-growth companies. The firm has a history of backing transformative businesses across various sectors.
- Investment Focus Areas: Technology, Healthcare, Consumer
- Notable Investments: Not publicly disclosed
- Decibel Partners
- Details: Decibel Partners is a venture capital firm that focuses on early-stage investments. The firm aims to support innovative startups in their growth journeys.
- Investment Focus Areas: Technology, AI, Enterprise Software
- Notable Investments: Not publicly disclosed
What's Next for Credo AI?
Credo AI stands at the cusp of significant growth, driven by the increasing demand for AI governance solutions. With a recent $21 million funding round, the company is poised to expand its market presence and enhance its product offerings. The AI governance market is burgeoning, fueled by stringent regulatory requirements and the need for responsible AI use. This presents a substantial opportunity for Credo AI to establish itself as a central hub for AI governance.
Future fundraising opportunities appear promising as the company continues to attract interest from investors. The successful recent funding round and the doubling of its valuation to $101 million indicate strong investor confidence. However, Credo AI will need to navigate the rapidly evolving regulatory landscape and intense market competition. Ensuring scalability and maintaining product quality will be crucial as the company grows. Despite these challenges, Credo AI's strategic partnerships and innovative solutions position it well for continued success.
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