Credal.ai, a New York-based startup focused on connecting internal data to text-generating AI models, has raised $4.8 million in seed funding.
The round was led by Spark Capital.
Founded in 2005, Spark Capital is a venture capital investment firm that invests in seed-stage, early-stage, growth-stage, and later-stage companies.
Based in Boston, Massachusetts, the firm seeks to invest in business products, business services, consumer products, consumer services, financial services, information technology, SaaS, and fintech sectors in the United States.
Credal.ai Use of Funds
The company will use the funding for expansion and product development. Credal plans to expand its headcount (which stands at five employees at present) and “expand the product to cover more data sources and perform more sophisticated data retrieval.
Founded by Jack Fischer and Ravin Thambapillai, Credal.ai offers an AI data platform designed for enterprises and emphasizes security and compliance in connecting data from internal sources to large language models (LLMs), such as those developed by OpenAI. The platform is designed to direct prompts to the most appropriate LLM and can help with redaction and data privacy.
Company: Credal.AI, Inc.
Round: Seed Round
Funding Month: November 2023
Lead Investors: Spark Capital
Company Website: https://www.credal.ai/
Software Category: AI Security