Truera secured $5.1 Million in First Funding round

Truera, a California based provider of a Model Intelligence platform, has now secured a $5.1 million in the first funding round. 

Truera is founded by the Shayak Sen, Anupam Datta, and Will Uppington. It offers a Model Intelligence platform for enterprises to analyze machine learning, improve model quality, and build trust.

The company also launched a solution that removes the 'black box' surrounding Machine Learning (ML). The solution also provides intelligence and actionable insights throughout the ML model lifecycle. It is supported by enterprise-class Artificial Intelligence Explanaibility technology based on six years of research at the Carnegie Mellon University. The platform is already deployed and delivering value to Fortune 100 customers in the insurance and banking sector.

Jerry Chen, Partner at Greylock, said, "Truera’s Model Intelligence platform and it's AI.Q technology are fundamental breakthroughs in AI. Removing the black box problem of machine learning is essential to build effective and responsible ML applications. The Truera team has unparalleled research, engineering and business experience to solve this problem. We are excited to partner with Anupam, Shayak and Will in transforming the way machine learning models are built, governed and operationalized."

Will Uppington, CEO and Co-Founder of Truera, said, "We are very excited to partner with Standard Chartered and our other customers, and thrilled to have earned support from Greylock, Wing and Conversion Capital. Our vision is to create software that helps every data scientist analyze, improve and build trust in their models so that the world responsibly embraces AI."

The round was backed by the Greylock with existing investors, which include the Conversion Capital, Wing VC, and Aaref Hilaly.

The company, as of now, has plans to use the new funds to continue to expand its operations and development efforts.

PC: Pablo, Pixabay