Total amount raised
$68.1 Millions
Latest funding date
10/1/2024
Location
Galileo has successfully raised significant funding through multiple rounds, including a Series B, with backing from prominent investors like Battery Ventures and ServiceNow Ventures. The platform offers a comprehensive suite of tools for developing, testing, monitoring, and securing AI applications.
Keep reading to explore the intricacies of Galileo's fundraising journey and the investors backing this innovative platform.
What Is Galileo?
Galileo, founded on May 1, 2021, in San Francisco, California, is an AI platform specializing in developing, testing, monitoring, and securing AI applications. The company was established by Atindriyo Sanyal, Vikram Chatterji, and Yash Sheth.
With a team of 101-250 employees, Galileo aims to provide comprehensive evaluation intelligence for AI teams, ensuring trust and efficiency in generative AI applications. Their platform includes modules for experimentation, monitoring, debugging, and securing AI systems.
Galileo's innovative approach and robust toolchain have garnered significant attention and investment, positioning them as a key player in the AI industry.
How Much Funding Has Galileo Raised?
- Seed Round
- Amount Raised: $5.1M
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI platform and build initial product features.
- Series A
- Amount Raised: $18M
- Date: November 2022
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development to meet growing market demand.
- Series B
- Amount Raised: $45M
- Date: October 2024
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the go-to-market strategy, expand product development, and enhance AI evaluation research.
Total amount raised: $68.1M. Current valuation: Not publicly disclosed.
Key Investors
- Battery Ventures
- Details: Battery Ventures is a venture capital firm that invests in technology companies at various stages of growth. They have a strong track record of supporting innovative tech startups.
- Investment Focus Areas: Software, IT infrastructure, industrial technology.
- Notable Investments: Nutanix, Coupa Software, Glassdoor.
- Scale Venture Partners
- Details: Scale Venture Partners is a venture capital firm that focuses on scaling enterprise software companies. They led Galileo's Series B funding round.
- Investment Focus Areas: Enterprise software, SaaS, cloud computing.
- Notable Investments: Box, DocuSign, HubSpot.
- ServiceNow Ventures
- Details: ServiceNow Ventures is the investment arm of ServiceNow, focusing on strategic investments in enterprise software companies. They aim to enhance ServiceNow's platform and ecosystem.
- Investment Focus Areas: Enterprise software, cloud computing, AI.
- Notable Investments: Element AI, MapAnything, Loom Systems.
- Databricks Ventures
- Details: Databricks Ventures invests in companies that complement Databricks' ecosystem. They participated in Galileo's Series B funding round.
- Investment Focus Areas: Data intelligence, AI, enterprise software.
- Notable Investments: Not publicly disclosed.
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji's endowment and philanthropic initiatives. They focus on long-term investments in technology and consumer sectors.
- Investment Focus Areas: Technology, consumer sectors, AI infrastructure.
- Notable Investments: Not publicly disclosed.
What's Next for Galileo?
Galileo's future looks promising with the expansion of their Evaluation Intelligence Platform, aiming to enhance AI accuracy and trustworthiness for global teams. The company is poised to capitalize on the growing demand for AI evaluation tools, especially as they collaborate with major partners like Twilio and Comcast. Their participation in events like GenAI Productionize 2.0 further showcases their platform's capabilities.
With a significant $45 million Series B funding round and an 834% revenue growth in 2024, Galileo is well-positioned for future fundraising opportunities. Continued support from investors like Battery Ventures and Scale Venture Partners could lead to additional rounds of investment, fueling further growth and innovation.
However, challenges remain. Galileo must address the lack of robust testing methods for AI accuracy and safety, and scale their evaluation metrics to handle production throughput. Customizing evaluation models to meet diverse use case requirements will be crucial as AI applications continue to evolve.
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