ValidMind provides a fit-for-purpose AI risk management and governance platform for financial institutions, automating model documentation, testing, and validation to reduce manual work and speed deployment. The product targets model risk management (MRM) teams grappling with increased model complexity and regulatory pressure from frameworks such as SR 11-7, SS1-23, the EU AI Act, and other guidance. ValidMind’s platform is positioned to improve developer productivity, reduce time-to-market for models, and enable standardized, auditable MRM processes. The company says the funding will advance its go-to-market plans and help it serve as a long-term partner to financial services customers. ValidMind recently added Murat Doganaksoy, former Model Risk Officer at First Republic Bank, to its advisory board to support product development and strategy. The company is based in Palo Alto, Calif., and with this round its total funds raised are $11.1 million.

Total raised

$8M

Funding rounds

1

Latest round

Seed

Latest activity

Mar 2024