- Diveplane announced it has raised $25 million in funding. These are the details.
Diveplane announced it has raised $25 million in funding.
Funding amount: $25 million
Funding round: Series A
Investors: Led by Shield Capital with Calibrate Ventures, L3Harris Technologies, and Sigma Defense also participating
What is Diveplane: Diveplane is a company keeping humanity in artificial intelligence (AI). And Diveplane helps businesses and government organizations concerned with data privacy to better understand and utilize the power of their data through AI tools that are trainable, interpretable, and auditable. The company’s solutions are designed around the principles of predicting, explaining, and showing, creating user confidence that operational decisions are built on a foundation of fairness and transparency.
New board member: As part of the agreement, Philip Bilden, managing partner of Shield Capital, will join the Diveplane board of directors.
What the funds will be used for: The funds provide Diveplane with the opportunity to invest further in its award-winning AI solutions, while facilitating targeted growth to meet increased market demand.
KEY QUOTES:
“Chris, Mike, and the Diveplane team are building a leading technology platform to employ the power of AI while protecting privacy and explainability. We are excited to partner with them as their platform is foundational for large organizations to safely implement and scale AI.”
— Raj Shah, managing partner of Shield Capital
“We founded Diveplane with the mission of putting humanity back into AI, and we’re succeeding. 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.”
— Mike Capps, co-founder and CEO of Diveplane
