Rhino Federated Computing, a leading platform for federated AI collaboration, announced the closing of an oversubscribed $15 million Series A funding round led by AlleyCorp. And all existing institutional investors participated, including LionBird, Fusion Fund, Arkin Digital Health, Qiming Venture Partners USA, Telus Global Ventures, and Keren Maccabi, as well as new investors Wilson’s Bird Capital, Mr. Frank Sica, and Gaingels. The funding round brings Rhino FCP’s total funding to over $30 million to date.
Launched in 2020 by Dr. Ittai Dayan (who led AI development and deployment at Mass General Brigham and was a researcher at Harvard Medical School) and Yuval Baror (serial entrepreneur with over 20 years of experience building AI-based production systems), Rhino FCP helps enterprises work together on AI and data science initiatives without centralizing data—advancing a new era of federated AI that protects data ownership, complies with regulation, and accelerates innovation. The company is already powering major use cases, including:
1.) Building federated GenAI capabilities to transform biopharmaceutical R&D (e.g., the FAITE Biopharma Consortium for Biologics Engineering)
2.) Supporting healthcare organizations in building data harmonization & federated collaboration infrastructure (e.g. Sheba Medical Center Data Interoperability & Access)
3.) Enabling financial institutions to combat fraud and financial crime (e.g. Google & Swift Financial Fraud Prevention)
How the funding will be used: With this new funding, Rhino will scale these capabilities across more customers and regulated sectors, bringing to market a robust, enterprise-grade solution for organizations looking to collaborate with data at scale.
KEY QUOTES:
“Federated AI is the future of innovation in regulated industries. We’re helping organizations unlock the power of their data—not in isolation, but as part of an interconnected, secure network. This investment allows us to accelerate that mission and expand the reach of our platform.”
Dr. Ittai Dayan, CEO and co-founder of Rhino Federated Computing
“In the rapidly advancing era of artificial intelligence, unique data is becoming incredibly valuable. But often that data is private and proprietary, so private, secure, and effective collaboration tools are necessary to activate and realize the true value of that data. It’s a difficult challenge, especially in highly sensitive fields like healthcare and financial services, and Rhino’s federated AI platform is the most compelling foundation we’ve seen for making that possible.”
Dr. Alexi Nazem, General Partner head of healthcare at AlleyCorp
