Private AI, a Canada-based privacy-preserving startup, has raised USD 8 million in a Series A funding round led by BDC Capital, with participation from investors such as GIT1K, Panda Angel Partners, Microsoft’s Venture Fund (M12), and Differential Ventures. Private AI’s total funding following this round stands at USD 11.5 million.
The funds will be used to enhance its product with features to detect Personally Identifiable Information (PII) within documents, generate risk profiles, and develop a new self-service platform. The funds will also be used to expand its operations across Europe and new industries.
Private AI reported that its revenue grew 80% quarter over quarter (QoQ) over the last 18 months.
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