ModelOp, an AI Governance software, secured $10 million in Series B funding led by Baird Capital, with participation from existing investors like Fidelity Investments, FINRA, and Bristol Myers Squibb. This funding will bolster ModelOp’s AI Governance capabilities, particularly in product innovation and go-to-market strategies.
“This funding 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,” said Pete Foley, CEO of ModelOp.
Fortune 500 companies, including Fidelity Investments, FINRA, and Bristol Myers Squibb, rely on ModelOp’s software as a single source of truth. The platform provides real-time visibility into AI risk, performance, health, and value. By automating governance processes, ModelOp ensures that AI initiatives are transparent, compliant, and aligned with organizational goals.
ModelOp’s AI Governance Score
ModelOp’s AI Governance Score, introduced in the latest version 3.3 release, is the world’s first standardized metric for measuring AI risk and compliance across various AI initiatives. This innovation helps enterprises navigate the complex landscape of AI governance, whether using generative AI, in-house, third-party, or embedded AI systems.
The need for robust AI governance has never been more urgent. As generative AI accelerates digital transformation, enterprises face significant risks and operational challenges due to inadequate governance frameworks. According to a recent interview with Accenture’s CEO, less than 2 percent of executives understand how AI is utilized within their organizations and the associated risks.
In addition to operational challenges, AI regulations are tightening at multiple levels, with the EU AI Act recently coming into force on August 1. Compliance with these regulations is becoming a top priority for enterprises globally.
Future Growth Plans
With the new capital infusion, ModelOp plans to enhance its market-leading automation capabilities, providing enterprises with the tools to consistently maintain visibility and enforce policies. This will help organizations stay compliant with evolving regulations while continuing to innovate in the AI space.
ModelOp, based in Chicago, IL, continues to lead in AI Governance, empowering enterprises to manage and safeguard their AI initiatives without hindering innovation. Through its automated solutions and integrations, ModelOp addresses critical governance challenges, ensuring the effective and responsible deployment of AI systems.
“We’ve been extremely impressed by ModelOp’s robust software capabilities, strong leadership and blue chip customer base, and we look forward to supporting the company’s future growth,” said Jim Pavlik, Partner with Baird Capital’s Venture Capital team.
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