MOSTLY AI Raises $25m to Expand in Europe and US

Vienna, Austria-based synthetic data provider MOSTLY AI has raised $25m in a Series B round of funding, which it will use to accelerate its growth in Europe, capture more of the US market, and expand its team globally.

The firm, which also has offices in NYC, says its data sets look just as real as a company's original customer data, with just as many details, reflecting behavior and patterns, but without the original personal data points. Clients, who are banks and insurers in North America and Europe, use the solutions to grow their business while complying with privacy protection regulations such as GDPR.

New funding has been led by Molten Ventures, with participation from existing investors Earlybird and 42CAP, and new investor Citi Ventures. MOSTLY AI CEO Tobias Hann (pictured) comments: 'We're extremely excited about the future of synthetic data, and to partner with Molten Ventures, which shares our vision for fundamentally changing how companies work with data'.

Web site: www.mostly.ai .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.