PRESS RELEASE
SHORT HILLS, N.J., Oct. 26, 2023 /PRNewswire/ — Skull, the main enterprise AI safety and belief software program agency, in the present day introduced that the corporate has raised $25 million in Sequence A funding. Telstra Ventures led the spherical with participation from KPMG LLP and SYN Ventures. Each collaborating buyers beforehand supplied seed funding when Skull emerged from stealth six months in the past and spun out of KPMG with further funding from SYN Ventures.
The brand new spherical brings Skull’s whole funding to $32 million. The funds can be used for innovation, analysis and growth (R&D), and enterprise enlargement. Skull’s latest spherical will construct firm development, strengthen buyer momentum, and speed up Skull Enterprise software program platform innovation by way of product growth; scale go-to-market methods, together with gross sales and advertising efforts; enable funding in R&D to additional visibility into the safety of AI methods; improve safety, regulation, and compliance in AI/ML environments in opposition to adversarial threats; and reinforce its groups and prospects with further assist.
“AI is being embedded into each enterprise course of and performance at an unprecedented velocity. Prioritizing accountable AI now, initially of the AI revolution, will enable enterprises to scale extra successfully and never run into main roadblocks and compliance points later,” stated Jonathan Dambrot, CEO and Co-Founding father of Skull. “We’re honored and deeply grateful for the assist from our prospects and buyers whose dedication to Skull solely fuels our dedication to supply unparalleled visibility, belief, and a brand new degree of safety in relation to the complete AI ecosystem of any group.”
Skull helps organizations acquire confidence within the AI-enabled merchandise in companies they’re each creating and utilizing. Skull’s software program is custom-built to handle the hole between information science, compliance, and cybersecurity groups by offering a single supply of reality for AI safety dangers, which is completed in a manner that avoids requiring groups to vary their processes, instruments, or workflows; its worth is guaranteeing AI methods are safe, reliable, and compliant, correctly dealing with important assets corresponding to well being, monetary, and client information to fulfill compliance laws.
“The speedy charge of innovation fueled by the emergence of GenAI capabilities has generated contemporary challenges for cybersecurity groups, elevating new questions over compliance, trustworthiness, and safety of their AI/ML environments,” stated Marcus Bartram, Basic Accomplice at Telstra Ventures. “Skull stands on the forefront of AI safety and belief software program, empowering organizations to navigate the crowded cybersecurity trade with its groundbreaking product and pioneering improvements addressing enterprises’ pressing wants grappling with AI regulation, compliance, and safety frameworks. We’re thrilled to spend money on the crew at Skull and are assured within the great influence they’re poised to make.”
Since its inception, Skull’s dedication to creating AI safety attainable by working with international leaders in well being sciences, monetary companies, client packaged items, and retail showcases its versatility and holistic view of the AI trade. Because the first-ever expertise spinout out of KPMG’s startup incubator, Skull’s mission is to safe the AI revolution, enabling organizations to safe their AI applied sciences. Skull’s distinctive design and options, grounded in years of trade expertise and high-level partnerships, lend it a definite edge within the more and more crowded cybersecurity market.
About Skull
Skull is the main enterprise AI safety and belief software program agency, enabling organizations to achieve visibility, safety, and compliance throughout their AI and GenAI methods. Organizations can map, monitor, and handle their AI/ML environments in opposition to adversarial threats with out interrupting how groups prepare, take a look at, and deploy their AI fashions by way of its Skull Enterprise software program platform. The Skull platform additionally permits organizations to shortly collect and share details about the trustworthiness and compliance of their AI fashions with their third events, purchasers, and regulators. Incubated and funded in stealth inside KPMG Studio, Skull helps cybersecurity and information science groups perceive that AI impacts their methods, information, or companies all over the place. Safe your AI at Skull.AI.
About Telstra Ventures
Telstra Ventures Accelerates the Extraordinary – we gas the expansion of standout disruptors. In our first eleven years, 96 investments have generated 38 liquidity occasions together with Auth0, BigCommerce, Field, CrowdStrike, DocuSign, Rancher, Skillz, Snap, and Whispir. Thus far, our Income Acceleration Platform has pushed > US$500 million in income for our portfolio corporations, extending their attain throughout Australia, Asia, UK and the US. In 2022, we introduced the shut of our third fund, bringing Funds Below Administration to US$1 Billion. To see our full portfolio and be taught extra, go to www.telstraventures.com.