Redactable Secures $5.5 Million in Seed Round
Redactable, a New York-based AI-driven web application designed for quick and permanent redaction of sensitive documents, has secured $5.5 million in seed funding.
The investment round was led by Gradient Ventures, Google's AI-focused venture fund, with participation from Wocstar Fund, existing pre-seed investors, and notable angel investors.
Founded in 2017, Gradient Ventures is the venture capital investment arm of Alphabet based in Mountain View, California. The firm seeks to invest in seed-stage and early-stage companies operating in the information technology, artificial intelligence, and machine learning sectors.
The company will use the funding to advance its market reach, visibility, and operations.
Founded by Amanda Levay, Redactable is a SaaS (cloud-based) redaction software that automatically and permanently removes sensitive data from documents. The proprietary software leverages Natural Language Processing and Machine Learning technology (NLP/ML) technology to auto-detect sensitive information in documents. The company recently won a $1.25 million contract with the U.S. Air Force to utilize its software for protecting sensitive documents and automating business processes.
Funding Details
Company: Redactable, Inc.
Raised: $5.5M
Round: Seed Round
Funding Month: December 2023
Lead Investors: Gradient Ventures
Additional Investors: Wocstar Fund
Company Website: https://www.redactable.com/
Software Category: Redaction Software