ModelOp, a leading AI Governance software for enterprises, announced that it raised $10 million in series B equity funding led by Baird Capital with participation from existing investors.
This funding will be used to expand ModelOp’s team, accelerating go-to-market efforts and product innovation. Innovative enterprises including Fidelity Investments, FINRA, and Bristol Myers Squibb utilize ModelOp as a single source of truth that provides real-time visibility into AI risk, performance, health, and value. And through automation, ModelOp ensures all AI initiatives are transparent, compliant, and aligned with organizational goals.
This funding follows the new release of ModelOp version 3.3, the third-generation of its software. And it includes the world’s first AI Governance Score, which gives executives a standardized metric to measure risk and compliance across diverse AI initiatives, regardless of whether an organization is using generative AI, in-house, third-party vendor, or embedded AI systems.
AI regulations are sharply increasing at the state, federal, and international levels, including the EU AI Act that went into force on August 1.
With the new funding, ModelOp will build upon its market-leading automation capabilities that establish visibility into AI initiatives and enforce policies consistently to help organizations stay compliant even as regulations evolve rapidly.
KEY QUOTES:
“This exciting milestone will fuel the continued growth of our leading AI Governance software. Baird Capital is an incredible partner and we’re proud to tap their deep expertise in B2B technology as we help enterprises get started with governance and scale their AI initiatives responsibly.”
- Pete Foley, CEO of ModelOp
“We’re very excited to partner with the ModelOp team in their mission to accelerate AI innovation while ensuring appropriate enterprise risk management and regulatory compliance. We’ve been extremely impressed by ModelOp’s robust software capabilities, strong leadership and blue chip customer base, and look forward to supporting the company’s future growth.”
- Jim Pavlik, Partner with Baird Capital’s Venture Capital team
