Openlayer Raises $4.8M in Seed Funding

Openlayer, a San Francisco, CA-based creator of a platform for testing AI, closed a $4.8m seed funding round.

Quiet Capital is the lead investor with participation from:

• YCombinator
• Picus Capital
• Hack VC
• Liquid2 Ventures
• Mantis VC
• Jonathan Swanson, founder of Thumbtack and an investment consultant for Greystone Consulting
• Mike Krieger, co-founder, Instagram
• Max Mullen, co-founder, Instacart
• Guillermo Rauch, CEO and founder of Vercel
• Gokul Rajaram, member of the board of directors, Coinbase, Pinterest, and The Trade Desk
• Immad Akhund, co-founder CEO, Mercury
• Oliver Cameron, VP, Product, Cruise
• Yuri Sagalov, managing partner, Wayfinder Ventures
• Rodrigo Schmidt, head of engineering, NPE at Meta
• John Kim, CEO, SendBird

The company intends to use the funds to expand its workforce and enhance the platform’s functionality so it is capable of handling additional machine learning (ML) tasks.

Led by Vikas Nair, Gabriel Bayomi Tinoco Kalejaiye, and Rishab Ramanathan, Openlayer is a machine learning validation and testing platform that enables teams to detect, diagnose, and correct model failures.

The solution helps teams systematically improve their models and datasets by:

• Verifying the integrity of training and validation datasets
• Surfacing meaningful discrepancies between training, evaluation and production data
• Ensuring models meet their target performance benchmarks
• Validating models are robust to edge-cases by generating synthetic data to inject noise and conduct adversarial attacks
• Guaranteeing fairness of model behavior across data subpopulations
• Tracking versions of models and datasets and comparing their performance
• Explaining model behavior by surfacing which features of the data were used to make a prediction

Already, startups to Fortune 500 companies are using it to test and validate their machine learning models, uncover unexpected mistakes, and diagnose why and when they’re happening.

FinSMEs

04/05/2023