Credo AI, a Palo Alto, CA-based global leader in AI governance software, raised $21m in funding.
The round was led by CrimsoNox Capital, Mozilla Ventures, and FPV Ventures with participation from existing investors Sands Capital, Decibel VC, Booz Allen Hamilton, and AI Fund. This brings the company’s total funding raised to $41.3m.
The company plans to use the new capital to expand its strategic GTM efforts, intensify product innovation in governance intelligence, and enhance its capability to serve as the central hub for AI governance.
Founded in 2020 by Navrina Singh, CEO, Credo AI provides organizations with an AI Governance, Risk Management and Compliance platform to measure, monitor and manage AI risks, while ensuring compliance with emerging global regulations and standards, like the EU AI Act, NIST, and ISO.
In 2024, Credo AI announced its partnership with Databricks, bringing together its AI governance platform with the Databricks Data Intelligence Platform, making it easier for customers to adopt responsible, compliant, and safe AI at scale. They also recently signed a partnership with McKinsey to empower their clients with tailored solutions to support AI risk management and governance.
The company has tripled its revenue this year, and has grown its team by 3x including a new Head of Revenue and GTM, Mike Rogers, Head of People, Jessica Amato, and VP of Engineering, Benjamin Zamora.
FinSMEs
30/07/2024