– Patronus AI announced a $17 million Series A funding round, eight months after their $3 million seed round
– The company focuses on ensuring compliance and governance for large language models, specifically through their Patronus Evaluators API
– The investment was led by Notable Capital with participation from Lightspeed Venture Partners, Factorial Capital, Datadog, and industry angels
Patronus AI, a company focused on helping customers ensure their large language models are compliant with regulations and rules, announced a $17 million Series A funding round. The company has seen early success in the marketplace, particularly as companies in regulated industries are recognizing the need for tools to help them stay compliant with LLM governance.
The company’s main offering, Patronus Evaluators, allows customers to measure the performance of LLMs and LLM systems across various dimensions with just one line of code. This includes assessing risks such as likelihood to hallucinate, copyright issues, safety risks, and enterprise-specific capabilities like detecting business-sensitive information and brand voice.
With the increasing demand for tools to ensure LLM compliance, Patronus AI is positioned in a rapidly growing market. The company has already worked with a variety of portfolio companies and AI companies, processing hundreds of thousands of requests through their platform since launching.
The $17 million investment was led by Notable Capital, with participation from Lightspeed Venture Partners, Factorial Capital, Datadog, and industry angels. Patronus AI has doubled its employee count since their seed funding last year and plans to double again this year. The company’s focus on security and analysis for large language models is timely, especially in addressing the potential risks of hallucinations in model responses.