Verax AI, a company specialising in enterprise-level AI control solutions, has announced a successful seed funding round of £7.6 million. The funding, led by TQ Ventures and supported by Concept Ventures, Cardumen Capital, Seedcamp, InMotion Ventures, and XTX Ventures, will support Verax AI’s mission to improve visibility and control for AI products in production.
The funding round coincides with the launch of Verax Control Centre, a solution designed to enable greater transparency and reliability in large language model (LLM) applications. According to Verax AI, many organisations face difficulties scaling their AI initiatives due to unexpected model behaviours like inaccuracies, biases, or other deviations from expected outcomes. Such issues, if left unaddressed, can lead to both financial and reputational risks.
Verax Control Centre seeks to tackle these challenges, providing organisations with comprehensive oversight of their AI applications post-deployment. With real-time detection and correction capabilities, Verax Control Centre can identify anomalies, reduce risks, and ensure AI systems maintain consistent, safe behaviour in a live production environment. The technology is particularly significant for companies concerned with responsible AI adoption and minimising risks associated with unpredictable LLM behaviour.
The company was co-founded by Leonid Feinberg and Oren Gev, who together bring over 45 years of experience in the enterprise software sector. Their shared professional journey began in 2017 at CloudEndure, a tech company co-founded by Feinberg, which was later acquired by Amazon Web Services (AWS). Both Feinberg and Gev continued at AWS until they decided to embark on their new venture, Verax AI, in 2023.
The fresh capital injection will be used to accelerate Verax AI’s go-to-market strategy, aiming to drive awareness and adoption of Verax Control Centre across a diverse array of industries. Feinberg, who serves as Verax AI’s CEO, noted, “We’re thrilled to announce our seed funding alongside the release of Verax Control Centre. This launch is a vital step towards fostering trust in AI and giving companies the visibility they need over AI behaviour in real time. Our work is informed by parallels we’ve observed between today’s AI challenges and the cloud adoption challenges a decade ago, putting us in a unique position to support organisations on this journey.”
Current AI management tools typically focus on the development and deployment phases, but Verax AI’s solution aims to close the gap in post-deployment management. Verax Control Centre actively monitors deployed AI applications, enabling real-time adjustments to prevent undesirable outcomes without additional configuration or intervention.
Schuster Tanger, Co-Managing Partner of TQ Ventures, highlighted the importance of Verax AI’s approach to responsible AI, stating, “AI applications, whether in banking, retail, or healthcare, need oversight to ensure they do not yield inaccurate or offensive results. Leonid and Oren’s extensive experience in enterprise-grade solutions uniquely qualifies them to address these risks.”
With Verax Control Centre, the company aims to meet the increasing demand for reliable and responsible AI systems across industries. By prioritising transparency and adaptability, Verax AI’s new platform offers enterprises a comprehensive solution for safeguarding against the inherent risks associated with AI, promoting more secure and trusted deployment at scale.
