Funding

Redactive Funding News – Australia-based Redactive Raises $7.5M Seed Funding

Jul 3, 2024 | By Team SR

Developer platform, Redactive has successfully completed an $7.5 million USD ( $11.5 Million AUD) seed round co-led by Felicis and Blackbird, alongside Atlassian Ventures and automation unicorn Zapier.

SUMMARY

  • developer platform, Redactive has successfully completed an $11.5M seed round, co-led by Felicis and Blackbird, alongside Atlassian Ventures and Zapier.
  • Founded in 2023 by Andrew Pankevicius and Alexander Valente, Redactive provides AI application developers secure

The company says it plans to hire roughly five people in the customer success, marketing, and engineering departments with the additional funds. According to Pankevicius, the company employs ten people at present.

Read also - Rent2Cash Funding News – Italy-based Rent2Cash Secures €3M Pre-Seed Funding

A portion of the money will also be used by Redactive to hire new workers in the United States.

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"We're really trying to virtualize that AI engineer that's in so much demand right now to augment normal software teams," Pankevicius said.

Read also - Zedify Funding News – UK-based Zedify Raises £4M in Funding

“We see significant market pull from large enterprise customers, especially banks, insurance companies and other companies in regulated industries, to build their AI strategy in a secure way,” said Victoria Treyger, general partner at Felicis. “We also loved the Atlassian DNA of the team, commercial instincts and distribution relationships with Zapier and other partners so early in Redactive’s life stage.”

About Redactive

Founded in 2023 by Andrew Pankevicius and Alexander Valente, Redactive provides AI application developers secure & scalable pipelines to enable real time data retrieval from business data sources, based on an end user's request & level of access control.

Redactive always respects access controls set by the data source & data pipeline can be configured to never store your end documents, reducing your risk on downstream technology vendors.

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