Short Hills-based Cranium.ai Corp., which was spun off as a separate company from KPMG LLC in April, on Wednesday announced it has raised $25 million in new funding for innovation, research & development and business expansion.
Telstra Ventures led the round with participation from KPMG LLP and SYN Ventures. Both participating investors previously provided seed funding when Cranium emerged from stealth six months ago and spun out of KPMG’s startup incubator, KPMG Studio, with additional investment from SYN Ventures.
The new round brings Cranium’s total funding to $32 million.
Cranium’s newest round will build company growth, strengthen customer momentum and accelerate Cranium enterprise software platform innovation through product development; scale go-to-market strategies, including sales and marketing efforts; allow investment in R&D to further visibility into the security of AI systems; enhance security, regulation and compliance in AI/ML environments against adversarial threats; and reinforce its teams and customers with additional support.
“AI is being embedded into every business process and function at an unprecedented speed. Prioritizing responsible AI now, at the beginning of the AI revolution, will allow enterprises to scale more effectively and not run into major roadblocks and compliance issues later,” Jonathan Dambrot, co-founder and CEO of Cranium said. “We’re honored and deeply grateful for the support from our customers and investors whose dedication to Cranium only fuels our commitment to provide unparalleled visibility, trust and a new level of security when it comes to the entire AI ecosystem of any organization.”
Cranium said its software establishes an AI security framework that provides security and data science teams with a foundation for building a proactive and holistic AI security program. The platform also captures and quantifies AI security risk and establishes continuous monitoring.
“The rapid rate of innovation fueled by the emergence of GenAI capabilities has generated fresh challenges for cybersecurity teams, raising new questions over compliance, trustworthiness and security of their AI/ML environments,” Marcus Bartram, general partner at Telstra Ventures, said. “Cranium stands at the forefront of AI security and trust software, empowering organizations to navigate the crowded cybersecurity industry with its groundbreaking product and pioneering innovations addressing enterprises’ urgent needs grappling with AI regulation, compliance and security frameworks. We’re thrilled to invest in the team at Cranium and are confident in the tremendous impact they’re poised to make.”
