AI governance intelligence platform AI Score has raised $5.4m in a seed funding round as it looks to accelerate its go-to-market strategy.
The UK-based start-up was co-founded last year by former White & Case associate Benita Tibb. The round was led by early-stage technology investor Fuel Ventures, with support from start-up financier GALLOS Technologies, which incubated AI Score before its formal launch.
Investors from the technology, finance and national security sectors also participated. They included Alan Morgan, co-founder of MMC Ventures, and Mo El Husseiny, managing partner at Ventura Capital.
AI Score helps organisations control AI usage, assess the performance of AI tools and monitor their use against regulatory frameworks such as the EU AI Act.
AI Score co-founder and CEO Alex Harland said: “AI operates at a scale and level of automation that traditional governance simply wasn’t built for. Organisations need to be able to move quickly and capture the opportunity AI presents, without losing visibility or control.
“This investment allows us to accelerate our ambition to reinvent governance for the AI age, building intelligence directly into the process and giving organisations the confidence to win with AI.”
Fuel Ventures founder Mark Pearson said AI Score is addressing an urgent challenge for organisations.
He added: “Alex, Benita and the team have combined deep expertise with impressive early commercial momentum, and we believe they have the potential to build a category-leading UK technology company.”
AI Score previously raised $1m in pre-seed funding from unnamed investors in November last year, allowing it to emerge from stealth mode.
The company said its revenue grew almost 7-fold in the first half of this year. Growth was driven by clients across data-sensitive sectors, including a Magic Circle law firm, an FTSE 250 company, a leading UK fintech and major global consumer brands.
Tibb spent more than 5 years at White & Case, including 2 years as a trainee. She also held chief of staff roles at GALLOS Technologies and fintech company NOOK.
Harland previously served as head of cyber security at comparethemarket.com. Clifford Chance global tech group co-chair Jonathan Kewley has also advised the founding team.
Other senior advisers include former GCHQ director Sir Jeremy Fleming and Starling Bank chair and former HSBC Bank Europe CEO Colin Bell.
Last month, AI-powered digital ‘double’ platform start-up Twin1 raised $20m in a seed round co-led by Bessemer Venture Partners, Tribeca Venture Partners and Aramco Ventures.
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