Emerging Technology Insider
UK-based causaLens raises $45 million to scale human-centered AI that understands cause and effect
Our vision is to create a world in which humans can trust machines with the greatest challenges in the economy, society, and healthcare.
causaLens, the London deep tech company delivering the future of AI, has raised a $45m Series A round. causaLens is the pioneer of Causal AI - the only AI technology quantifying cause-and-effect relationships to reason alongside humans in a manner that is trustworthy, explainable, and fair. Causal AI represents a giant leap ahead of current correlation-based AI technologies, which blindly extrapolate historical data and are unable to ask counterfactual questions — the ‘what ifs’ at the core of human imagination and creativity. causaLens’s no-code platform delivers far more accurate and reliable results, and allows humans and machines to work together for the first time. It is trusted by decision makers across finance, industry, technology, and government.
The round was led by Dorilton Ventures and Molten Ventures, with sizable participation from existing investors Generation Ventures and IQ Capital. GP Bullhound and others also joined the round, which was oversubscribed. Daniel Freeman of Dorilton Ventures has joined causaLens’s board of directors.
Since emerging from stealth mode in January 2021, causaLens has seen annual revenue grow by more than 500%, winning marquee clients including Tier1 banks, hedge funds, governments and Fortune 500 companies.
After considering more than 50,000 CVs, causaLens has the strongest group of AI scientists and engineers ever assembled to implement Causal AI. The new funding will allow causaLens to double its team in 2022 while investing aggressively to maintain its competitive technology lead.
causaLens CEO and co-founder, Darko Matovski, said: “Our vision is to create a world in which humans can trust machines with the greatest challenges in the economy, society, and healthcare. Our customers are seeing transformative results with our no-code platform and we now have the resources to bring our platform to everyone.”
causaLens is delivering transformational outcomes across a range of sectors. In financial services, the insurer and asset manager Aviva uses the company’s platform to improve portfolio returns. Pension funds, including TIAA, with $1T under management, also trust causaLens with some of its most important decisions. Beyond financial services, causaLens’ platform has helped mitigate supply chain disruptions, navigate public health crises and discover novel biomarkers for cancer.
Supported by $45M in the first close of this Series A round, causaLens is now able to help organizations across more sectors and geographies to create human-centered AI systems they can fully trust.