Tonic.ai, a San Francisco, California-based company that mimics production data with fake data that can be used for quality assurance and testing, raised $35 million in Series B led by Insight Partners.
GGV Capital, Bloomberg Beta, William Smith from Octave, Heavybit, and Silicon Valley CISO Investments also participated in the round.
The funds will be used to improve developer relations and support future platform development, with a focus on implementing machine learning and AI to synthesize test datasets.
Company: TonicAI, Inc.
Raised: $35.0M
Round: Series B
Funding Month: September 2021
Lead Investors: Insight Partners
Additional Investors: GGV Capital, Bloomberg Beta, William Smith from Octave, Heavybit, and Silicon Valley CISO Investments
Company Website: https://www.tonic.ai/
Software Category: Development Applications
About the Company: Founded in 2018 and with offices in San Francisco and Atlanta, Tonic provides enterprise tools for database deidentification, synthesis, subsetting, and more. The platform lets developers create synthetic versions of their data for use in development and testing while taking steps to protect customer privacy. Tonic’s platform leverages AI to preserve ratios, relationships, and dependencies within certain data. It applies differential privacy during data transformations to muffle the impact of outliers and provide mathematical guarantees of privacy.
Source: https://venturebeat.com/2021/09/29/tonic-ai-which-taps-ai-to-generate-synthetic-tabular-data-raises-35m/