Arthur, a New York-based AI performance company, announced that it raised $42 million in Series B funding.
The round was co-led by Acrew Capital and Greycroft Ventures, with participation from Index Ventures, BAM Elevate, Work-Bench, and Plexo Capital.
The investment will help Arthur deliver on its mission to make AI work for everyone, increasing investment in research and development to fuel the continuing advancements for its customers.
The additional capital will provide scale to meet surging demand for essential AI infrastructure—Arthur has seen 235% recurring regrowth in the first two quarters of this year alone.
The investment is the largest in a machine learning observability platform, reflecting Arthur's leading position in the category.
"The first companies to become AI-native will be the leaders for decades to come," said Adam Wenchel, CEO of Arthur. "We are fortunate to be working with some of the most AI-forward partners out there, who have provided invaluable feedback to make our platform even better."
Company: ArthurAI, Inc.
Raised: $42.0M
Round: Series B
Funding Month: September 2022
Lead Investors: Acrew Capital and Greycroft Ventures
Additional Investors: Index Ventures, BAM Elevate, Work-Bench, and Plexo Capital
Company Website: https://arthur.ai/
Software Category: AI Performance solution
About the Company: Arthur is an AI performance company that helps enterprise customers deliver on the full potential of AI through performance monitoring and optimization, explainability, and bias mitigation. The Arthur platform monitors, measures, and improves machine learning models to deliver better results while working with enterprise teams. Arthur helps data scientists, product owners, and business leaders accelerate model operations at scale.
Source: https://www.prnewswire.com/news-releases/arthur-raises-42m-in-series-b-funding-as-ai-adoption-soars-301634376.html