Credo AI secures 21 million US dollars

Credo AI has raised $21 million to drive innovation in AI governance and expand globally

Brussels, July 2024 - Credo AI has announced that the startup has raised $21 million in new capital. This funding is intended to accelerate global growth and innovation in the field of AI governance. The capital comes from CrimsoNox Capital, Mozilla Ventures and FPV Ventures as well as existing investors Sands Capital, Decibel VC, Booz Allen Hamilton and AI Fund. Credo AI has thus raised a total of 41.3 million US dollars.

Pioneer in AI governance

Credo AI was founded in 2020 with the aim of making AI governance accessible and effective for companies. The startup's first products included third-party assessments of AI systems, such as fairness and bias service cards for Amazon Rekognition. Since then, Credo AI has become the leading platform for AI governance, helping global companies such as Mastercard, Northrop Grumman and Booz Allen Hamilton establish trustworthy AI practices.

At a time when artificial intelligence is rapidly evolving, the demand for sound governance is more important than ever. Credo AI emphasizes that responsible AI is necessary to build trust and foster innovation.

Strategic investments and global expansion

The new funding will be used to accelerate product innovation and expand global reach. Credo AI plans to further enhance its platform by increasing scalability and automation and addressing new regulatory requirements and risks through generative AI. In addition, the company will expand its presence in North America, EMEA and APAC to help companies worldwide comply with regional standards.

Talent development and growth

Credo AI was recently recognized as one of Inc.'s Best Places to Work 2024. The team has tripled in size and is investing in new key roles, including a new Head of Revenue and GTM, Head of People and VP of Engineering. The company is currently recruiting in a range of areas, from engineering and customer success to policy, product and marketing.

The future of AI governance

Credo AI has recently announced several product enhancements to meet the evolving needs of AI governance. These include a comprehensive library of AI-specific risk scenarios and controls, support for EU AI Act compliance, and implementation of ISO/IEC 42001. These enhancements are designed to help organizations develop and deploy AI systems responsibly.