{"id":399191,"date":"2020-12-14T10:45:49","date_gmt":"2020-12-14T15:45:49","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=399191"},"modified":"2020-12-14T10:45:49","modified_gmt":"2020-12-14T15:45:49","slug":"truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/","title":{"rendered":"Truera Raises $12M in Series A Funding to Accelerate  Go-to-Market of First AI Model Intelligence Platform"},"content":{"rendered":"<h2>\nStartup already working with multiple Fortune 100 organizations  to ensure model quality, adopt AI responsibly<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">REDWOOD CITY, Calif., Dec.  14, 2020  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wKeapd67wUhx2lEdhsEOmxwg13leorNZ3GRjfNMUEgZlzTxYqRNZTyuimnXjOKAr\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Truera<\/u><\/a>, which provides the industry\u2019s first <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=va24Y5O2Dm-Lo1Ph48prrfoXJ5hFl6mdwsI1zHDexmT6QVS-Y6I6oioppf33DrVCEmg0gkIYiUr0tAvSHp2z2qKvkaIVngzRSd-UMO61bqE=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Model Intelligence<\/a>\u00a0platform, announced today that on the heels of its successful launch out of stealth in August, it has closed $12M in Series A funding led by Wing VC with participation from returning investors Conversion Capital and Greylock and new investors Data Community Fund, B Capital Group via the firm\u2019s Ascent Fund, and Harpoon Ventures. This brings Truera\u2019s total funding to date to $17.3M.<\/p>\n<p>Truera\u2019s <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=durLBDmkE09_AWOqy3dTC_BUJ4ImvkE3iUEajwU426v6e-YaBgre3d5ir5NQ63MQdFDL33jgWbbnkoLwQd0QgWR8DET4ZHRv_oO0lpkHRaE=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">model intelligence software<\/a>\u00a0removes the \u201cblack box\u201d surrounding Machine Learning (ML) and provides intelligence and actionable insights throughout the ML model lifecycle &#8211; enabling companies to improve the quality and accuracy of their models, boost stakeholder collaboration, and address responsible AI concerns including explainability and bias. Truera\u2019s technology builds on six years of <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xY3fRSgJxIOljvjHVvzhxTZD0L-P6bh3oORz0UUG72j-ywKYvq8-HXD4WqzLeXhwrDoosNhErPZNuWtftfqWtX3nc1RnFWUKBIRQ78Ylffzd7Xi77gzdR17EWJeeqmcw\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">AI Explainability research<\/a>\u00a0performed at Carnegie Mellon University (CMU), which pioneered many of the methods that are becoming the standard for explaining popular ML models such as Tree models and Neural Networks. Building on this research, Truera\u2019s AI explainability technology devised by Co-founders Anupam Datta, President &amp; Chief Scientist, Truera and Professor, CMU and Shayak Sen, CTO, addresses deficiencies in the industry\u2019s first-generation Open Source software, enabling faster and more accurate AI explanations and analytics.<\/p>\n<p>According to Wing VC Partner Jake Flomenberg (who has joined Truera\u2019s board), a recent Wing VC <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=SlzCn_bx91BKvAgkcaMfyZx0I_DbEDeGE-V_5xoG_6fm-u60I1ouUjj1pafSPVs_XbrrgjcaUFhz3FcMqUFBJX48vvJxAze9KpNuzvcWuCL6iQQ1FqffGzo-ut0KYYhl3GgoQCIAlzscvaO5LsAOVg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>survey of data scientists<\/u><\/a> found:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:6pt\">Model explainability was respondents\u2019 top ML challenge, cited by greater than 45 percent of respondents, with data labeling a distant second (29 percent) and model deployment and data quality checks rounding out the top 4.<\/li>\n<li style=\"margin-top:6pt\">Stakeholder collaboration was the top organizational challenge cited by over 40 percent of respondents, with domain knowledge, management buy-in and bias concerns also frequently mentioned.<\/li>\n<li style=\"margin-top:6pt\">When asked what technology developments will be most important for data science and machine learning teams over the next 12 months, again Explainability was the #1 choice.<\/li>\n<\/ul>\n<p>\u201cExplainability will be a critical focus for our industry in 2021,\u201d said Flomenberg. \u201cTruera\u2019s model intelligence platform uniquely solves the model quality problems faced by every company building ML models. By removing the black box surrounding ML, Truera can improve stakeholder collaboration and buy-in, enable non-data scientist domain expertise and mitigate bias. Truera is on the forefront of working with companies like <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fdWofSChPYiB-kKdDW2zF2iu8AWJnbAaCdeSaUZw4RvrrPDVtbeTfGEhjATjXajHoXkzPG1NFIXybhFS2y2WSWLGhGdF3nd5qtZRiNBObG7_QgFQgep394LsZqawrJ_xZv11rOKw5STEb3e5fUhN40-ms7bMfntSTpu-IpZ238wovahOb69Tru96EHs0TcVBUW2tjfVl7ofIVZ6Nz5RMIQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Standard Charte<\/u><u>red<\/u><\/a> to develop <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HCEUN0ddM3NxikGn1TdfeZUqUYmFwMrYZwyCxtR_1IhQaVWm32kBPuqeKaUdUvCctWahI-DeFQXPYrite9h0Oo5w8VwCoHdVqm05VjAd-ay0G7UVDaVEpJbQsH4t2Bvwfsd7204elw2JwXVHXdrmWWI-efFVv1D91_YSZiC_sg4FJSUA--oIE9D0Dae47FVOszb29edUxvX8Hb4GvQ8_qQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>best-in-class responsible AI practices<\/u><\/a>.\u201d Wing has also been an early investor in companies like Snowflake and Gong.<\/p>\n<p>The Truera platform is already deployed at and delivering value to a number of early Fortune 100 customers. \u201cEvery company adopting ML struggles to build high quality models that deliver on KPIs and that stakeholders can trust,\u201d said Will Uppington, Co-founder and CEO of Truera. \u201cTruera can help. Our model intelligence platform solves these issues during development, model review, testing and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=30GZd2GDCbyIedO_Fm6Ap46k51AuH-TiPeQy8JVVxKi727_20Tku4LnNzcgIiBi-SUt55TsR7fd7ZBgeiwOhZw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>ML monitoring<\/u><\/a>. We\u2019re thankful to Wing, Greylock and Conversion Capital for supporting us on this journey.\u201d<\/p>\n<p>The COVID-19 pandemic has highlighted the need for enterprises to manage and monitor AI model quality, as models around the world broke as a result of rapidly changing market conditions. Truera not only helps enterprises build higher quality models during development, but also helps them monitor them in production on a continuous basis, flagging any potential problems that could impact performance, even when updated labels and re-training is not possible.<\/p>\n<p>\u201cTruera is hitting the market at just the right time,\u201d said Uppington. \u201cWe are seeing strong demand for our model intelligence solutions, and this funding will help us accelerate recruiting, product development, and sales and marketing efforts so we can fulfill that demand and help organizations adopt AI more effectively and more responsibly.\u201d<\/p>\n<p>To learn more about Truera or schedule a demo, visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KrMNQcW9yOaI0sIoxGHLQT6jBiqHN4PQCTSHy7ufkje7CoDHrH3V_lBpaO6UGh2tJjlp1cnNWi4ydDVuoX679w==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>https:\/\/truera.com\/<\/u><\/a>.<\/p>\n<p>\n        <strong>About Truera <\/strong><br \/>\n        <br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wKeapd67wUhx2lEdhsEOmyCzY1FQx-mMDytLxT-ouVEK961CwxzJ1p_NhqQXXGcY4MrG3LiBcms7Qw63feex_Q==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n          <u>Truera<\/u><br \/>\n        <\/a> provides the first Model Intelligence platform, to help enterprises analyze machine learning, improve model quality and build trust. Powered by enterprise-class Artificial Intelligence (AI) Explainability technology based on six years of research at Carnegie Mellon University, Truera\u2019s platform helps eliminate the black box surrounding widely used AI and ML technologies. This visibility leads to higher quality, explainable models that achieve measurable business results, address unfair bias, and ensure governance and compliance. To learn more, visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KrMNQcW9yOaI0sIoxGHLQeoTtn4LiFAsVaoks3V5D2wpEvYib6iBtj_qu3W-nG3kb8-UIYukRnLUT_KxWuBNgw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>https:\/\/truera.com\/<\/u><\/a>.<\/p>\n<p>\n        <strong>Media contact:<\/strong><br \/>\n        <br \/>Michelle Faulkner<br \/>617-510-6998<br \/>michelle@big-swing.com<\/p>\n<p>A photo accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KrMNQcW9yOaI0sIoxGHLQeRgswtbnOy2PjyVmysFVRgPPx2Z3IAJ9xmiQQ80q72NRTBmTmhk4fMvn4Pl6Tio-k-rX27E2b-RsaAxil93izVGMkzRX2-eDX-P6iColbinlVpjN3v6XavheEh1ctQn5dRGKRXV4ERhfC4zZpfL-3YLfItamwdFl8SO39TJRD9sMJ3HqOLRvoSQlJTLRTAb_9eh1a7A1BdzJmOfHvPdg2vfjDSoANtRMNtIEg7__UUtFYjAdeLzBSYwQ9gOBsPU2g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/2e1b6569-7969-4855-aa44-a55f53506e65<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTgyNiMzODgwMzUwIzIyMDEwNDM=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/088c4677-ac27-4d9f-984d-1bc0ff0a1556\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Startup already working with multiple Fortune 100 organizations to ensure model quality, adopt AI responsibly REDWOOD CITY, Calif., Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Truera, which provides the industry\u2019s first Model Intelligence\u00a0platform, announced today that on the heels of its successful launch out of stealth in August, it has closed $12M in Series A funding led by Wing VC with participation from returning investors Conversion Capital and Greylock and new investors Data Community Fund, B Capital Group via the firm\u2019s Ascent Fund, and Harpoon Ventures. This brings Truera\u2019s total funding to date to $17.3M. Truera\u2019s model intelligence software\u00a0removes the \u201cblack box\u201d surrounding Machine Learning (ML) and provides intelligence and actionable insights throughout the ML model lifecycle &#8211; enabling companies to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Truera Raises $12M in Series A Funding to Accelerate  Go-to-Market of First AI Model Intelligence Platform&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-399191","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Truera Raises $12M in Series A Funding to Accelerate Go-to-Market of First AI Model Intelligence Platform - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Truera Raises $12M in Series A Funding to Accelerate Go-to-Market of First AI Model Intelligence Platform - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Startup already working with multiple Fortune 100 organizations to ensure model quality, adopt AI responsibly REDWOOD CITY, Calif., Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Truera, which provides the industry\u2019s first Model Intelligence\u00a0platform, announced today that on the heels of its successful launch out of stealth in August, it has closed $12M in Series A funding led by Wing VC with participation from returning investors Conversion Capital and Greylock and new investors Data Community Fund, B Capital Group via the firm\u2019s Ascent Fund, and Harpoon Ventures. This brings Truera\u2019s total funding to date to $17.3M. Truera\u2019s model intelligence software\u00a0removes the \u201cblack box\u201d surrounding Machine Learning (ML) and provides intelligence and actionable insights throughout the ML model lifecycle &#8211; enabling companies to &hellip; Continue reading &quot;Truera Raises $12M in Series A Funding to Accelerate Go-to-Market of First AI Model Intelligence Platform&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-14T15:45:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTgyNiMzODgwMzUwIzIyMDEwNDM=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Truera Raises $12M in Series A Funding to Accelerate Go-to-Market of First AI Model Intelligence Platform\",\"datePublished\":\"2020-12-14T15:45:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\\\/\"},\"wordCount\":757,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODExMTgyNiMzODgwMzUwIzIyMDEwNDM=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\\\/\",\"name\":\"Truera Raises $12M in Series A Funding to Accelerate Go-to-Market of First AI Model Intelligence Platform - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/","og_locale":"en_US","og_type":"article","og_title":"Truera Raises $12M in Series A Funding to Accelerate Go-to-Market of First AI Model Intelligence Platform - Market Newsdesk","og_description":"Startup already working with multiple Fortune 100 organizations to ensure model quality, adopt AI responsibly REDWOOD CITY, Calif., Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Truera, which provides the industry\u2019s first Model Intelligence\u00a0platform, announced today that on the heels of its successful launch out of stealth in August, it has closed $12M in Series A funding led by Wing VC with participation from returning investors Conversion Capital and Greylock and new investors Data Community Fund, B Capital Group via the firm\u2019s Ascent Fund, and Harpoon Ventures. This brings Truera\u2019s total funding to date to $17.3M. Truera\u2019s model intelligence software\u00a0removes the \u201cblack box\u201d surrounding Machine Learning (ML) and provides intelligence and actionable insights throughout the ML model lifecycle &#8211; enabling companies to &hellip; Continue reading \"Truera Raises $12M in Series A Funding to Accelerate Go-to-Market of First AI Model Intelligence Platform\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-14T15:45:49+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTgyNiMzODgwMzUwIzIyMDEwNDM=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Truera Raises $12M in Series A Funding to Accelerate Go-to-Market of First AI Model Intelligence Platform","datePublished":"2020-12-14T15:45:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/"},"wordCount":757,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTgyNiMzODgwMzUwIzIyMDEwNDM=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/truera-raises-12m-in-series-a-funding-to-accelerate-go-to-market-of-first-ai-model-intelligence-platform\/","name":"Truera Raises $12M in Series A Funding to Accelerate Go-to-Market of First AI Model Intelligence Platform - 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