Diveplane raises $25mn in Series A funding - The EE

Diveplane raises $25mn in Series A funding

Raleigh, United States – Diveplane, the company keeping humanity in artificial intelligence (AI), announced it has raised [$25 million (€25.01 million)] in Series A funding. The round was led by Shield Capital, with Calibrate Ventures, L3Harris Technologies, and Sigma Defense also participating. The funds provide Diveplane with the opportunity to invest further in its AI solutions, while facilitating targeted growth to meet increased market demand. As part of the agreement, Philip Bilden, managing partner of Shield Capital, will join the Diveplane board of directors.

Diveplane helps businesses and government organisations concerned with data privacy to better understand and leverage the power of their data through AI tools that are trainable, interpretable, and auditable. The company’s solutions are designed around the principles of predict, explain and show, creating user confidence that operational decisions are built on a foundation of fairness and transparency.

Gartner, which has consistently ranked Diveplane as a technology innovator and Cool Vendor, estimates that the AI software market will reach [$62 billion (€62.02 billion)] in 2022 alone, and continue to grow at a rate of more than 30% through 2027. Diveplane is poised to capitalise on the market opportunities with its support of multiple real-world use cases – prediction, anomaly detection, anonymisation and the creation of synthetic data – all from a single model on one platform.

“Chris, Mike, and the Diveplane team are building a leading technology platform to employ the power of AI while protecting privacy and explainability,” says Raj Shah, managing partner of Shield Capital. “We are excited to partner with them as their platform is foundational for large organisations to safely implement and scale AI.”

“We founded Diveplane with the mission of putting humanity back into AI, and we’re succeeding,” says Mike Capps, co-founder and CEO of Diveplane. “We’re building trusted partnerships, with a product set that provides a holistic capability for fair and transparent decision making and data privacy. This support adds rocket fuel to our business, so we can build on our successful approach to helping companies innovate with our Reactor platform.”

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