AI startup Diveplane secured $25 Million in Series A Funding Round

Diveplane, a North Carolina-based company keeping humanity in AI, has now secured $25 million in a Series A funding round.

Diveplane was founded by Dr. Michael Capps and Dr. Chris Hazard in the year 2018. It helps businesses, and government organizations concerned with data privacy to better understand and leverage the power of their data via AI tools that are interpretable, auditable, and trainable.

The company’s solutions are designed around the principles of predicting, explaining, and showing, creating user confidence in the operational decisions that are built on a foundation of transparency and fairness.

Raj Shah, a managing partner of Shield Capital, said, "Chris, Mike, and the Diveplane team are building a leading technology platform to employ the power of AI while protecting privacy and explainability. We are excited to partner with them as their platform is foundational for large organizations to safely implement and scale AI."

Mike Capps, co-founder and CEO of Diveplane said, "We founded Diveplane with the mission of putting humanity back into AI, and we’re succeeding. We’re building trusted partnerships with a product set that provides a holistic capability for fair and transparent decision-making and data privacy. This support adds rocket fuel to our business, so we can build on our successful approach to helping companies innovate with our Reactor platform. "

The round was led by Sigma Defense LLC, Shield Capital, L3Harris Technologies, and Calibrate Ventures.

Post funding, Philip Bilden, Managing Partner of Shield Capital, will now be going to join the Diveplane board of directors team.

The AI startup, as of now, has plans to use the new funds to invest further in its AI solutions while facilitating targeted growth to meet increased market demand, notes the announcement.