Verax AI, an Israeli startup that develops enterprise-grade software solutions to provide visibility and control of AI in production, announced on Wednesday that it has secured $7.6 million in Seed funding. The funding round was led by TQ Ventures with participation from Concept Ventures, Cardumen Capital, Seedcamp, InMotion Ventures, and XTX Ventures. Verax AI was founded by Leonid Feinberg and Oren Gev.
The two first began working together in 2017 at CloudEndure, a company co-founded by Feinberg, where he served as the VP of Product. CloudEndure was later acquired by Amazon Web Services (AWS) for a reported $250 million. Feinberg and Gev continued working together at AWS until 2023, when they co-founded Verax AI.
Verax AI secures seed funding
While traditional Machine Learning (ML) development and operations tools help optimize AI products during development and deployment, Verax AI focuses on mitigating risks once these AI products are moved to production. Its solutions provide visibility into the production use of LLM-based products outside the lab and offer auto-correction of unwanted behavior in real-time without time-consuming configurations or human intervention.
Verax AI also announced the launch of its enterprise-grade software solution, Verax Control Center, which provides visibility and control of LLM-based products in production. “We are excited to be able to simultaneously announce our Seed round and the release of the Verax Control Center. Providing customers with increased AI trust and a new level of visibility into how their AI products behave is a crucial step in protecting against risk and facilitating the widespread adoption of responsible AI,” said Verax AI Co-Founder and CEO Leonid Feinberg.
“We’re seeing many parallels between the challenges organizations are facing when adopting AI today and the ones they faced adopting the public cloud a decade ago. As a result, we are perfectly positioned to help them.”
