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Fiddler Receives Strategic Investment from Lockheed Martin Ventures
As part of the investment, Lockheed Martin Ventures is expected to work with Fiddler on the development, testing, and scaling of Fiddler's technology in applying explainable AI in the aerospace and defense industries
Fremont, CA: Fiddler, a Palo Alto, California-based provider of solutions to enable organizations to get complete visibility into their production AI systems, secured a strategic collaboration with Lockheed Martin Ventures inclusive of a strategic cooperation agreement and an investment.
As part of the investment, Lockheed Martin Ventures is expected to work with Fiddler on the development, testing, and scaling of Fiddler's technology in applying explainable AI in the aerospace and defense industries.
Established in October 2018 by CEO Krishna Gade and CPO Amit Paka, Fiddler provides an AI Explainability platform that allows organizations to get continuous insights to monitor, explain, and analyze their AI solutions at the scale required in the modern business environment. An Explainable AI Monitoring system offers deep model insights with actionable steps, empowering users to understand the problem drivers, root cause issues, and analyze their models.
The company has closed a total of $14m to date, including a $3m seed round raised in October 2018 led by Lightspeed with active participation from Bloomberg Beta and Haystack and $10.2m in Series A funding led by Lightspeed and Lux capital, with continued participation from Haystack and Bloomberg Beta.
"Explaining AI outcomes is key to building great AI solutions - when businesses can understand why their models are doing something, they are empowered to make those models better," said Chris Moran, General Manager and VP of Lockheed Martin Ventures. "Fiddler is designing its Explainable AI Platform to get ahead of this, and we hope it enables users to gain actionable insights with continuous real-time monitoring of AI that ensures precise and rapid error detection on an ongoing basis."
See also: Top Aerospace Tech Solution Companies