Boston startup Monitaur announced Wednesday that it raised $4.6 million for its artificial intelligence governance software that helps insurance companies deploy responsible AI and machine learning models.
The funding round was led by Cultivation Capital and included participation from Rockmont Partners, Presidio Ventures, Plug and Play and Studio VC.
Monitaur co-founder and CEO Anthony Habayeb told Built In that the funding will be used to further develop its platform and hire talent across roles and departments.
“Building responsible and trustworthy AI is a complex challenge for insurance companies,” Habayeb said in a statement. “Our strong value proposition, commitment to the broader ecosystem and shared vision with our new investors are fueling the company’s growth, and we are well-positioned for the future.”
