Go.AI™, a Chicago-based provider of on-premises, examiner-ready AI infrastructure, built for banks, healthcare providers and other regulated organisations, has closed an $85m Series A funding round.
The financing was led by Updata Partners, with existing backers GFT Ventures and LAUNCH also taking part, lifting Go.AI’s total capital raised to date to $90m.
The raise comes shortly after the company’s rebrand from Go Abacus and follows a year of momentum that began with the launch of The Go1™, described as the first on-prem AI hardware and software solution built specifically for regulated organisations.
Go.AI has since expanded to more than 200 customers, with annual recurring revenue climbing over eightfold year on year while the business remains profitable. Customers are now running on-premises AI deployments that together handle upwards of 12.5 million queries daily, with the heaviest demand coming from financial services, healthcare, aerospace and defence, and manufacturing firms.
Go.AI provides regulated institutions with private AI infrastructure that operates inside their own secure environments, combining software and hardware so that sensitive data never has to leave the customer’s systems. The platform is designed around the auditability and governance standards these sectors are held to, letting organisations put AI into production rather than treat it as an experiment, and is offered for a fixed fee rather than usage-based pricing.
The new funding will go towards growing Go.AI’s engineering headcount, speeding up development of its Go.OS software and hardware line, and expanding go-to-market efforts as the company looks to move beyond its core regulated-industry base into a wider group of compliance-focused organisations.
Alongside this, Go.AI plans to keep growing its team while putting more resources into training and client advisory work aimed at improving customers’ understanding of secure, on-premises AI. That includes a forthcoming company podcast series and wider marketing activity intended to push back against fear-based narratives about AI adoption and show organisations how to bring the technology in with confidence.
Go.AI co-founder and CEO David Moscatelli said, “When Lisa Gillespie and I cofounded the company, we were two people with a big idea. Today we have over 50 team members, and the company we’ve built is doing exactly what we said it would do for the institutions that trust us most.
“This funding lets us keep building at that pace, but the thing I’m most proud of isn’t the growth number, it’s the education. AI doesn’t have to be something people fear or don’t understand. Done right, it works alongside the people who use it. That’s what this round lets us prove, at scale.”
Updata Partners general partner Carter Griffin said, “Go.AI built the AI stack that regulated institutions can actually deploy: software and hardware that live inside the customer’s secure environment with no proprietary data going to a third party. All of this at a fixed fee with no per-token surprise costs.
“Go.AI’s combination of explosive growth and profitability is exactly what we look for at Updata. We are thrilled to partner with David, Lisa, and the entire Go.AI team.”
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