Credo AI, a global leader in AI governance software, today announced that it has raised $21 million in new capital from CrimsoNox Capital, Mozilla Ventures, and FPV Ventures with participation from existing investors Sands Capital, Decibel VC, Booz Allen Hamilton, and AI Fund. This funding round brings the total to $41.3 million.
With the funding, the company plans to continue scaling amid rapidly growing global needs for responsible AI use and safety. Since being founded and pioneering of the AI Governance category in 2020, Credo AI has made massive leaps in its mission to ensure AI is always in service to humanity, with a relentless focus on advocating for humans where AI algorithms are used. And Credo AI’s robust growth underscores its pivotal role in shaping the future of AI governance. The company also tripled its revenue this year. It grew its team by 3x, including a new Head of Revenue and GTM, Mike Rogers, Head of People, Jessica Amato, and VP of Engineering, Benjamin Zamora.
Leading AI enterprises like Mastercard, Northrop Grumman, Ruffalo Noel Levitz, and Booz Allen Hamilton trust Credo AI’s software to provide technical and non-technical stakeholders the ability to manage, monitor and measure AI risks. This year, Credo AI also announced a partnership with Databricks, bringing together its AI governance platform with the Databricks Data Intelligence Platform, making it easier for customers to adopt responsible, compliant, and safe AI at scale.
Along with supporting its leadership team, Credo AI will use the new funding to expand its strategic GTM efforts, intensify product innovation in governance intelligence, and enhance its capability to serve as the central hub for AI governance.
This includes significant investments in purpose-built integrations to automate governance processes across industry-leading MLops and LLMops tools, ensuring seamless alignment with evolving industry standards and regulatory frameworks. These initiatives reinforce Credo AI’s commitment to enabling organizations worldwide to adopt AI responsibly while driving AI innovation and operational efficiency.
KEY QUOTES:
“We are past the AI hype cycle and organizations now find themselves at a critical inflection point where they are expected to capitalize on AI systems, but don’t feel equipped to address mounting fears about safety and a growing laundry list of emerging rules for them to comply with. Governance is the key that unlocks the full potential of generative AI. Across the Credo AI customer base, we are seeing hundreds of AI use cases for functions ranging from risk management to customer engagement to marketing to search and beyond. As organizations race to harness AI’s transformative power, they face mounting pressures to navigate a complex web of regulations and societal expectations. At Credo AI, we empower enterprises to not only manage AI risks effectively but also to foster innovation responsibly.”
- Navrina Singh, CEO and Founder of Credo AI
“Organizations of all sizes, all over the world, want to embrace AI innovation while acting responsibly and maintaining compliance in a fast-evolving regulatory landscape. Using Credo AI, leaders at these organizations can implement compliance and safety measures across the entire AI product lifecycle. Beyond compliance, Credo AI provides a foundation for organizations to innovate while considering (and mitigating) the unintended consequences of new AI systems.”
- Mohamed Nanabhay, Managing Partner at Mozilla Ventures
“We are honored to support Credo AI in their mission to safeguard society amidst the rapid surge in AI investment and innovation. As we stand on the brink of an era where AI’s transformative potential knows no bounds, it is imperative that our dedication to safety and ethical considerations matches our zeal for progress. Ensuring that technological advancements benefit humanity without causing harm is a responsibility we embrace with conviction.”
- Yong Aik Gan, CEO of CrimsoNox Capital
“The Responsible AI movement finds its strongest industry advocate in Credo AI, championing holistic governance that integrates multi-stakeholder oversight. Their remarkable progress underscores the urgency for enterprises to embark on their Responsible AI governance journey. Credo AI has successfully guided numerous organizations in aligning AI applications with industry-specific standards and regulations, ensuring swift and safe adoption.”
- Scott Frederick, Managing Partner at Sands Capital
“We are seeing AI adopted across companies of all stages, and compliance and governance will be critical to the long-term success of these initiatives regardless of the vertical. Credo AI gives its customers the foundation for long-term success of their AI initiatives, leading the industry in responsible AI and setting the global standards for its safe and sustainable use.”
- Jon Sakoda, Founding Partner at Decibel VC
“Everyone is talking about the business opportunities for AI, but for real-world implementation, accountability is key to realizing its full potential. Customers, boards, executives, and organizations need to trust the new AI systems they deploy and Credo AI gives them the accessibility and legality needed for critical needle-moving AI use cases.”
- Pegah Ebrahimi, Co-Founder and Managing Partner of FPV Ventures
