Today, TruEra, a company that offers the first suite of AI Quality management tools for controlling model performance, explainability, and social effect, made the announcement that Hewlett Packard Enterprise has invested in TruEra through its Hewlett Packard Pathfinder venture capital programme. This extends TruEra’s previously announced $25 million Series B investment in March of 2022.
Today, TruEra, a company that offers the first suite of AI Quality management tools for controlling model performance, explainability, and social effect, made the announcement that Hewlett Packard Enterprise has invested in TruEra through its Hewlett Packard Pathfinder venture capital programme. This extends TruEra's previously announced $25 million Series B investment in March of 2022.
Hewlett Packard Pathfinder is an investment arm of Hewlett Packard that seeks for category-defining start-ups, builds solutions that integrate the products of its portfolio businesses with those of Hewlett Packard Enterprise, and designs combined marketing initiatives. Additionally, Hewlett Packard Pathfinder keeps a close eye on longer-term disruptive innovation, which helps to foster technical developments that maintain HPE at the forefront of the industry.
According to Paul Glaser, Vice President and Head of Hewlett Packard Pathfinder, "We are excited to become an investor and to partner with TruEra in developing comprehensive solutions for our enterprise customers in conjunction with our High-Performance Computing offering." TruEra is a company that develops high-performance computing solutions.
According to Ali Wasti, Managing Director of Hewlett Packard Pathfinder, "AI model quality and ML Ops have surfaced as substantial hurdles for organisations adopting and expanding machine learning models." "The resolution of these difficulties is very necessary for the success of AI, and TruEra stands out due to the depth of its expertise, the differentiation of its technology, and the practical experience it has in assisting enterprises in delivering and monitoring AI applications."
Next, AI must ensure quality. TruEra's products help machine learning teams explain, analyse, and test model performance, risk, and responsible AI. The solutions then monitor live model use to ensure speedy troubleshooting and optimal performance. Due to its complete approach to model quality during its entire existence, several Fortune 1000 companies have selected TruEra as their provider. The business was honoured with a spot on the World Changing Ideas list published by Fast Company for the second year in a row in March of 2022. TruEra was recognised as a "Cool Vendor" by the seasoned researchers at Gartner, Inc. in their study titled "Cool Vendors in AI Governance and Responsible AI," which was published in June 2021. In addition, several of the company's employees sit on advisory boards for governmental organisations such as the Bank of England and the Monetary Authority of Singapore, amongst other organisations.
Will Uppington, the current CEO and co-founder of TruEra, was quoted as saying that Hewlett Packard Enterprise is a leading and trusted provider to the enterprise, and that it is renowned for its capacity to guarantee that cutting-edge innovation produces proven outcomes. We are excited to collaborate closely with the HPE team as partners on client engagements and look forward to the opportunity.
To this day, top-tier investors such as Menlo Ventures, Greylock Partners, and Wing Venture Capital, amongst others, have contributed more than $45 million to TruEra in the form of financial backing. The academic research that Anupam Datta and Shayak Sen, two of the co-founders of TruEra, carried out while they were students at Carnegie Mellon University served as the basis for the company's technical foundation.