BeeKeeperAI, a zero-trust, collaboration software firm for developing and deploying AI, has successfully secured $12.1m in Series A funding.
This impressive financing round was led by Sante Ventures, and saw participation from the Icahn School of Medicine at Mount Sinai, AIX Ventures, Continuum Health Ventures, TA Group Holdings, and UCSF. The funds raised are expected to be channelled towards expanding the capabilities of BeeKeeperAI’s EscrowAI™ platform and broadening the company’s commercial operations.
BeeKeeperAI is at the forefront of tackling issues related to data sovereignty, security, privacy, and intellectual property protection. The company has focused its efforts on enabling organisations to construct software applications that harness the power of AI on privacy protected information. With global cybercrime costs predicted to skyrocket to $10.5tn by 2025, and highly regulated sectors like healthcare being prime targets, the need for zero-trust environments to secure both privacy protected information (PPI) and intellectual property is paramount.
The newly raised funds will be utilised for the expansion of BeeKeeperAI’s EscrowAI platform’s capabilities and to capitalise on the growing demand for zero-trust computing environments that power AI development.
BeeKeeperAI CEO and Co-founder, Michael Blum, said, “BeeKeeperAI is poised to drive the adoption of zero-trust, confidential computing capabilities by enabling secure collaboration workflows between AI developers and stewards of privacy protected information. There has never been a better time to invest in further development of software-as-a-solution (SaaS) that leverages the secure capabilities of confidential computing.”
In a statement, Dennis McWilliams, Partner at Sante Ventures, expressed the firm’s confidence in BeeKeeperAI, “Our investment in BeeKeeperAI evolved out of a multi-year search of identifying companies that we believe could significantly accelerate the adoption of AI in healthcare.”
Erik Lium, Chief Commercial Innovation Officer at Mount Sinai and President of Mount Sinai Innovation Partners, echoed this sentiment, stating their intentions of using EscrowAI to further secure Mount Sinai’s data.
The company has previously announced the general availability of its patent-protected, zero-trust collaboration platform, EscrowAI, which incorporates Microsoft Azure confidential computing capabilities, providing ease of deployment for a zero-trust workflow to support AI development and deployment.
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