Highlights:

  • Redactive’s platform makes it easier to retrieve the data needed to customize generative AI applications with client or confidential information.
  • Redactive asserts that it is the only platform for developers that addresses the problem of enterprise software engineering teams lacking security and AI engineering expertise.

Redactive Software Pty. Ltd. raised USD 7.5 million in the latest funding to increase its headcount and marketing efforts and expand footprint in the US. The company is an Australian-based AI engineering and security development startup.

Redactive, a 2023 startup founded by former Atlassian Corp. product managers Andrew Pankevicius and Alexander Valente and former self-employed machine learning engineer Lucas Sargent, is developing a developer platform to address challenges related to AI engineering and security skill sets in enterprise software teams.

“Redactive started with a question: what if we considered the information security, privacy, and permissioned access control needs of an enterprise first and reversed that out into a simple to adopt developer platform for software engineers to build custom AI-enabled features or products that can seamlessly get through information security reviews and truly make their way into production quickly?” said Pankevicius.

Redactive’s platform makes it easier to retrieve the data needed to customize generative AI applications with client or confidential information. The business provides application programming interfaces that manage vector stores, syncing of data, chunking of documents, embedding models, and live permissioned business data fetching.

By providing a “virtual AI engineer,” the platform eliminates the need for developers to acquire, use, and retain specialized data engineering skills to create safe, scalable, and AI-enhanced applications for clients or productivity use cases.

Redactive asserts that it is the only platform for developers that addresses the problem of enterprise software engineering teams lacking security and AI engineering expertise. To accomplish this, it provides businesses with technology that can reliably and safely deploy customized generative AI applications into production while navigating stringent security regulations and connecting to dispersed data sources.

Despite being relatively new, Redactive reported that it is seeing strong growth from big businesses that want to benefit from generative AI’s productivity gains while maintaining control over their data flows, security, and intellectual property. Redactive has two sizable financial services institutions as clients in Australia.

In addition to Atlassian Ventures LLC and Zapier Inc., Felicis Ventures and Blackbird Ventures Pty. Ltd. spearheaded the seed round.

“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. 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,” said Victoria Treyger, General Partner at Felicis.