# Private AI

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/private-ai

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.private-ai.com
- Total disclosed funding: $11M
- Latest round: Series A (Nov 17, 2022)
- Investors on record: 9

## About

Based in Canada, Private AI Inc. specializes in advanced technology for detecting and anonymizing personally identifiable information (PII), providing innovative solutions to help organizations manage data privacy effectively.Private AI Inc. was founded in Toronto, Canada in 2017 by Patricia Thaine and Pieter Luitjens. The company focuses on developing solutions for PII management and has raised a total of USD 8.00 mn through a Series A funding round, with the latest deal occurring on November 17, 2022, led by BDC Capital and supported by several other investors. This funding will help propel the company’s growth and expansion into various sectors and regions.Private AI is a technology firm specializing in the detection, anonymization, and replacement of personally identifiable information (PII) through its core product offerings, notably PrivateGPT. This solution leverages advanced de-identification technology to accurately identify and redact over 50 different types of PII in real-time, significantly reducing the error rate compared to alternative solutions. PrivateGPT supports deployment in both on-premises and cloud environments, accommodating a range of file types, including text, PDFs, images, and audio. The company caters to a diverse client base spanning various sectors, including banking, insurance, and healthcare, and ensures compliance with global privacy regulations such as GDPR, HIPAA, and CPRA. Geographically, Private AI's products are marketed primarily in North America and Europe, where businesses increasingly seek to mitigate privacy risks associated with data handling in generative AI applications.Private AI's revenue model is primarily structured around subscription-based services for its core offerings, including PrivateGPT and its associated de-identification solutions. Enterprises purchase licenses to utilize these products in their operations, ensuring that sensitive customer data is managed securely and in compliance with regulatory standards. Revenue is generated through direct engagements with organizations, which may include partnerships and enterprise contracts. Pricing structures are tailored to the specific needs of businesses and reflect the scale of implementation within the client's existing infrastructure. Notably, Private AI’s flagship service, PrivateGPT, is designed to integrate seamlessly into organizational workflows, enhancing productivity while preserving data integrity.In November 2022, Private AI Inc. raised USD 8.00 mn in Series A funding, led by BDC Capital, to support its expansion strategy. The company plans to utilize this funding to enhance operations in Europe and explore new industrial sectors. The objective is to develop new products and broaden market reach by targeting specific regions, with strategic efforts aimed at strengthening its presence in areas increasingly focused on data privacy and compliance.

## Funding rounds

- Series A, Nov 17, 2022, $8M — BDC Capital, Shasta Ventures, Forum Ventures, M12, Differential Ventures, Panda Angel Partners, Global Information Technology 1000, Parliament Angels
- Seed, Sep 15, 2021, $3.1M — Shasta Ventures, Forum Ventures, M12, Hyperplane Venture Capital, Differential Ventures, Parliament Angels

## Investors

- Shasta Ventures (https://capitalatlas.ai/funds/shasta-ventures) — Seed, Series A
- Forum Ventures (https://capitalatlas.ai/funds/forum-ventures) — Seed, Series A
- M12 (https://capitalatlas.ai/funds/m12) — Seed, Series A
- Hyperplane Venture Capital (https://capitalatlas.ai/funds/hyperplane-venture-capital) — Seed
- Differential Ventures (https://capitalatlas.ai/funds/differential-ventures) — Seed, Series A
- Parliament Angels — Seed, Series A
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series A
- Panda Angel Partners — Series A
- Global Information Technology 1000 (https://capitalatlas.ai/funds/global-information-technology-1000) — Series A