FairPlay, the world's first "Fairness-as-a-Service'' solution for algorithmic decision-making, announced that it raised $4.5 million in seed investment funding.
The round was led by Third Prime Capital, with participation from FinVC, TTV, Financial Venture Studio, Amara, and Nevcaut Ventures.
The funding from this round will go towards the continued growth and development of the FairPlay team of machine learning engineers and data scientists.
Company: FAIRPLAY AI, INC.
Round: Seed Round
Funding Month: November 2021
Lead Investors: Third Prime Capital
Additional Investors: FinVC, TTV, Financial Venture Studio, Amara, and Nevcaut Ventures
Company Website: https://www.fair-play.ai/
Software Category: AI fairness solution
About the Company: Fairplay is the world's first "Fairness-as-a-Service" solution for fair lending compliance in the US. FairPlay is an AI fairness solution for any company that uses algorithms to make high-stakes decisions about people's lives. The company provides lenders with simple and easy-to-use tools that assess and reduce bias in lending algorithms. Fairplay has been founded on the premise that algorithmic discrimination is a massive problem that must be solved by building modern fairness infrastructure for the Internet, to assess and lessen biases in every algorithm used to make a high-stakes decision about people's lives.