WestCap Group invests in innovative technology that eliminates the need for complex middleware
Torch.AI, a global artificial intelligence (AI) firm which uses machine learning to enable massively scaled, ultra-high-performance data processing, announced it has raised USD 30 million in Series A funding to accelerate its overall growth strategy. The funding, led by Laurence Tosi’s WestCap Group, a prominent San Francisco-based investment firm. That will enable the company to rapidly scale its Nexus™ AI platform to meet increasing demand from clients including Fortune 100 companies and U.S. federal agencies charged with protecting national security.
‘Torch.AI’s philosophy embraces more open and adaptable architectures, allowing us to provide lower-cost, future-proof solutions offering a dramatic departure from the monolithic black boxes and complex middleware that are the norm in machine learning and data management landscape,’ said Brian Weaver, Torch.AI CEO. ‘This new funding and our partnership with WestCap Group provides welcome resources to further our marketplace disruption and accelerate the growth of our team to keep up with demand.’
The new Series A funding – the firm’s first institutional investment – allows Torch.AI to enhance its proprietary technology, product design, and user experience while continuing to aggressively expand in the U.S.
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Companies including Microsoft, H&R Block, General Electric, the U.S. Air Force, Centers for Medicare and Medicaid Services, U.S. Department of Agriculture, and the U.S. Department of Defense, have already benefitted from the Nexus™ platform’s ability to put data to work to improve decision making. In 2018, the firm was tapped to help transform how data can be leveraged to improve security clearance decisions and diagnostics across 95 per cent of the federal government’s employee and contractor workforce. By mid-2020, the platform spanned data and business systems across more than a dozen federal agencies, providing the capacity for billions of real-time data processing computations.
Prior to the investment, Torch.AI launched a strategic employee recruitment effort, adding executives and software developers in both Washington, D.C. and its engineering centre in suburban Kansas City.
