AI governance intelligence platform AI Score has secured $5.4m in seed funding to accelerate its go-to-market strategy.
The UK-based start-up, which was co-founded last year by former White & Case associate Benita Tibb, attracted funding from early-stage tech investor Fuel Ventures, alongside support from start-up financier GALLOS Technologies, which incubated the AI firm prior to being established.
Prominent figures from across technology, finance and national security also contributed to the financing, including Alan Morgan, a co-founder of start-up backers MMC Ventures, along with Mo El Husseiny, managing partner of investment firm Ventura Capital.
AI Score operates as a governance-focused platform that helps organisations control how AI is being used, while also measuring how AI tools are performing and monitoring AI use against regulatory frameworks such as the EU AI Act.
Alex Harland, co-founder and CEO of AI Score, said: “AI operates at a scale and level of automation that traditional governance simply wasn’t built for. Organisations need to be able to move quickly and capture the opportunity AI presents, without losing visibility or control.
“This investment allows us to accelerate our ambition to reinvent governance for the AI age, building intelligence directly into the process and giving organisations the confidence to win with AI.”
Mark Pearson, founder of Fuel Ventures, said that AI Score is tackling an urgent problem for every organisation.
He added: “Alex, Benita and the team have combined deep expertise with impressive early commercial momentum, and we believe they have the potential to build a category-leading UK technology company.”
In November last year, the firm raised $1m in pre-seed funding from unnamed investors, enabling the company to emerge from stealth mode.
AI Score says that its revenue has grown almost seven-fold during the first half of this year. The increase in earnings has been fuelled by clients from a wide range of data-sensitive industries, including a Magic Circle law firm alongside a FTSE 250 company, a leading UK fintech and major global consumer brands.
Co-founder Tibb spent more than five years at White & Case, including two years as a trainee. She also previously held chief of staff roles at AI Score-backer GALLOS Technologies and fintech company NOOK.
Harland was previously head of cyber security for comparethemarket.com.
Clifford Chance’s global tech group co-chair Jonathan Kewley also acted as a senior adviser to the founding team.
Other senior advisers include former GCHQ director Sir Jeremy Fleming and Starling Bank chair and former CEO of HSBC Bank Europe Colin Bell.
Last month, AI-powered digital ‘double’ platform start-up Twin1 announced it secured $20m in a seed funding round co-led by a trio of investment firms: Bessemer Venture Partners, Tribeca Venture Partners and Aramco Ventures.
Email your news and story ideas to: [email protected]
