ValidMind, a Palo Alto, CA-based provider of AI and model risk management solutions for the financial services industry, has raised $8.1 million in a seed funding round.
Investors
The round was led by Point72 Ventures, with significant participation from Third Prime, New York Life Ventures, AI Fund, Notion Capital, FJ Labs, Angel Invest, and Gaingels. This latest round of funding brings ValidMind's total funds raised to $11.1 million.
Founded in 2016 and based in New York, Point72 Ventures is an every-stage global VC fund that focuses on fintech, deep tech, and enterprise investments.
ValidMind Use of Funds
The infusion of capital will propel ValidMind's go-to-market strategies and facilitate the expansion of its offerings.
About ValidMind
Founded by Jonas Jacobi, Andres Rodriguez, and Mehdi Esmail, ValidMind is a company that offers AI risk management and governance solutions for financial services organizations to automate testing, documentation, and model risk governance for AI and statistical models. Leveraging automation and advanced algorithms, ValidMind empowers model risk management (MRM) teams to streamline processes, enhance efficiency, and maintain compliance with regulatory standards.
Funding Details
Company: ValidMind, Inc.
Raised: $8.1M
Round: Seed Round
Funding Month: March 2024
Lead Investors: Point72 Ventures
Additional Investors: Third Prime, New York Life Ventures, AI Fund, Notion Capital, FJ Labs, Angel Invest, Gaingels
Company Website: https://validmind.com/
Software Category: Governance, Risk Management, and Compliance (GRC) Software
Source: https://www.businesswire.com/news/home/20240327181854/en/