causaLens raises $45m Series A to scale human-centered AI that understands cause and effect
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 that quantifies 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 patterns to forecast the future and are unable to ask counterfactual questions — the ‘what ifs’ that are the foundation 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, formerly Draper Esprit, with sizable participation from existing investors Generation Ventures and IQ Capital. GP Bullhound and others also joined the round, which was oversubscribed. As part of the transaction, 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%. The company has won marquee clients including Tier1 banks, hedge funds, governments and Fortune 500 companies.
The team was formed by considering more than 50,000 CVs and is now approximately 50% comprised of PhDs in a variety of relevant disciplines. It represents the strongest group of AI scientists and engineers ever assembled to implement Causal AI. The Series A funding will allow causaLens to double its team in 2022 to meet the growing global demand for Causal AI while investing aggressively to maintain its competitive technology lead.
Commenting on the Series A raise, 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.”