Redactive AI secures $11.5m led by Blackbird, Felicis
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The news: Developer platform Redactive AI has secured a $11.5 million seed round, co-led by Blackbird Ventures and California-based VC Felicis, alongside Atlassian Ventures and Zapier.
The context: Redactive is a developer platform that helps software teams build permissions-aware, secure generative AI agents and applications. The Melbourne-based startup was founded by former Atlassian product managers Andrew Pankevicius and Alexander Valente, and AI engineer Lucas Sargent.
Redactive said its early adopters are large enterprises who are looking to take advantage of the productivity benefits of generative AI, whilst ensuring their security, data flows, and intellectual property remain their own.
In the local market, Redactive is actively used by two large financial services institutions, assisting them both to scale their generative AI use cases to over 500 employees each.
Redactive said it will use its seed funding to grow the team across engineering, customer success, and marketing and work directly with enterprises on their generative AI initiatives. The team also looks to expand its footprint and begin hiring in the US.
What they said: Pankevicius said: “The open-source community was filled with incredible projects that showed what this next generation of AI could do".
“We saw first-hand how enterprises with fragmented data repositories and complex security controls would struggle to adopt bespoke generative AI agents and applications without their very specific, dynamic security needs being fulfilled to get these use cases into production,” he said.
Blackbird Ventures general partner Michael Tolo commented: “We’ve been impressed with the speed Redactive has been able to move at to solve critical challenges for AI native application developers and compliant enterprises".
“It’s a testament to the deep expertise and thoughtfulness the founding team has to tackle the hidden security and governance challenges software teams get stuck on to be able to truly deliver production grade, secure gen AI applications,” Tolo said.
The source: Redactive AI media release
