In a significant move, Deasie, a data governance platform focused on facilitating language model applications, has successfully closed a seed funding round, securing $2.9 million. This financing round garnered support from prominent investors, including Y Combinator, General Catalyst, RTP Global, Rebel Fund, and J12 Ventures, all known for backing remarkable ventures like Curacel and Tranch.
The freshly acquired capital will propel Deasie's ambitious expansion plans. The San Francisco-based tech company aims to bolster its product team with senior engineers, fostering innovation and robust development. In preparation for this transformative phase, Deasie has already inked a pilot agreement with a multi-billion-dollar organization, demonstrating its growing industry influence. Impressively, Deasie boasts an extensive pipeline of over 30 enterprise clients, which notably includes five Fortune 500 companies.
Founded earlier this year by a dynamic team comprising Reece Griffiths, Mikko Peiponen, and Leo Platzer, who bring to the table a wealth of experience from notable institutions such as McKinsey, QuantumBlack, Amazon, and MIT, Deasie is on a mission to revolutionize how businesses harness the potential of Generative AI safely and effectively. Their collective realization that most companies lacked the essential data infrastructure for secure Gen AI adoption fueled the birth of Deasie.
Unlike many of its peers that focus primarily on governance of structured data, Deasie takes the bold step of addressing the quality and relevance assessment of unstructured data. This distinctive approach positions Deasie as a leading player in the data governance space.
Deasie's cutting-edge platform seamlessly integrates with a company's data sources, meticulously dissects all data forms, from documents to reports and even Slack messages, and divides them into smaller sections based on semantic meaning. It then meticulously tags each piece of data, taking into account its content and sensitivity.
The power of Deasie's platform is that it simplifies the process of deploying Gen AI applications, such as chatbots, while also employing a comprehensive library of tags and metadata to ensure data is scrupulously filtered for relevance, quality, and safety. This rigorous approach guarantees that the language models are powered by data that is not only reliable but also secure.
Deasie's co-founder and CEO, Reece Griffiths, emphatically states, "Nearly 80% of today's data is unstructured - think documents, reports, text, images. With the rise of Gen AI, companies are now attempting to leverage these to feed into chatbots, knowledge assistants, content-generation tools etc. However, the historic lack of quality controls and governance around this type of data means that AI applications are being fed with low-quality and sensitive data, leading to the deployment of unreliable and unsafe models. We want to change that by allowing companies to intelligently vet the data they are feeding into these AI models."
In a landscape where language models are reshaping the way businesses function, Deasie's vision is poised to redefine data governance for large enterprises. Their impressive journey is endorsed by investors who recognize the immense potential in Deasie's quest to empower AI applications with a quality-controlled, secure data ecosystem. With this significant seed funding round, Deasie is all set to write the future of data governance in the Gen AI era.