RALEIGH, NC / ACCESSWIRE / September 12, 2022 / Diveplane, the company keeping humanity in artificial intelligence (AI), today announced it has raised $25 million in Series A funding. The round was led by Shield Capital, with Calibrate Ventures, L3Harris Technologies, and Sigma Defense also participating. 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. As part of the agreement, Philip Bilden, managing partner of Shield Capital, will join the Diveplane board of directors.
Diveplane helps businesses and government organizations concerned with data privacy to better understand and leverage the power of their data through AI tools that are trainable, interpretable and auditable. The company's solutions are designed around the principles of predict, explain and show, creating user confidence that operational decisions are built on a foundation of fairness and transparency.
Gartner, which has consistently ranked Diveplane as a technology innovator and Cool Vendor, estimates that the AI software market will reach $62 billion in 2022 alone, and continue to grow at a rate of more than 30 percent through 2027. Diveplane is uniquely poised to capitalize on the market opportunities with its support of multiple real-world use cases - prediction, anomaly detection, anonymization, and the creation of synthetic data - all from a single model on one platform.
"Chris, Mike, and the Diveplane team are building a leading technology platform to employ the power of AI while protecting privacy and explainability," said Raj Shah, managing partner of Shield Capital. "We are excited to partner with them as their platform is foundational for large organizations to safely implement and scale AI."
"We founded Diveplane with the mission of putting humanity back into AI, and we're succeeding," said Mike Capps, co-founder and CEO of Diveplane. "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."
About Diveplane
Founded in 2018 by Dr. Michael Capps and Dr. Chris Hazard, Diveplane keeps the humanity in artificial intelligence (AI). The company develops technology that helps businesses and government organizations better understand and leverage the power of their data through AI tools that are trainable, interpretable, and auditable. Diveplane is headquartered in Raleigh, North Carolina. For more information on Diveplane and its product suite, please visit www.diveplane.com or follow the company on LinkedIn and Twitter.
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