Redactive AI, a Melbourne, Australia-based provider of a developer platform that solves for the missing AI engineering and security skill sets lacking within enterprise software teams, raised $7.5M USD in Seed funding.
The round was led by Felicis and Blackbird, alongside Atlassian Ventures and automation unicorn Zapier.
The company intends to use the funds to grow the team across engineering, customer success, and marketing and work directly with enterprises on their Generative AI initiatives.
Founded by Lucas Sargent, Andrew Pankevicius, and Alexander Valente, Redactive provides a developer platform that solves for the missing AI Engineering and security skillsets lacking within enterprise software engineering teams, equipping them with technology that can navigate strict security requirements and connect to data sources to be able to ship bespoke generative AI applications into production reliably & safely.
Redactive AI’s platform simplifies information retrieval to personalise Generative AI applications with proprietary or customer data. The company offers a single API to handle data syncing, document chunking, embedding models, vector stores, and live permissioned fetching of business data that end users can use to make real-time business decisions.
Redactive’s early adopters are large enterprises who are looking to take advantage of the productivity benefits of Generative AI, whilst ensuring their security, data flows, and intellectual property remain their own. In Australia alone, the company is actively used by two large financial services institutions, assisting them both to scale their generative AI use cases to over 500 employees each.
FinSMEs
02/07/2024