REDWOOD CITY, Calif., July 11, 2022 (GLOBE NEWSWIRE) — TruEra, which provides the first suite of AI Quality management solutions for evaluating and managing model performance, explainability, and social impact, announced today that it has been named to the prestigious Fintech Power 50 2022, recognizing the most influential, innovative and powerful companies and figures in the fintech industry.
“TruEra stood out for its innovative approach to ensuring AI quality and governance, and for the measurable impact it’s making for its Fortune 500 clients,” said Mark Walker, Co-founder and COO of the Fintech Power 50. “We’re looking forward to working alongside TruEra in the coming year, helping to show how its solutions can advance AI initiatives at financial services companies.”
“Financial services firms are rapidly adopting new technologies, like AI, that allow them to operate more effectively and to capture new market opportunities. TruEra helps ML teams ensure that their AI initiatives are high performing and well governed. We help address compliance with existing regulations like fair lending laws, as well as help AI models stand up to increased scrutiny from financial regulators,” said Will Uppington, CEO and Co-founder, TruEra. “We’re proud to be recognized as a unique fintech leader helping companies address some of their hardest challenges. It’s a testament to the hard work of the entire TruEra team, and to the innovative leaders at financial services firms who are partnering with us to drive new initiatives.”
TruEra addresses the next big challenge of AI – the quality challenge. TruEra offers two solutions, one for ML model testing and evaluation and the other for ML model monitoring. TruEra’s solutions help data science and ML teams explain, evaluate and test the performance, explainability, and fairness of models in the development phase, and then helps monitor their live use to ensure optimal ongoing performance. Due to this unique, full- lifecycle approach to model quality, TruEra has been selected as the preferred vendor by multiple Fortune 1000 companies. In March 2022, the company was named to the Fast Company World Changing Ideas list for the second year in a row. In June 2021, TruEra was named a “Cool Vendor” by expert analysts at Gartner, Inc in the report, “Cool Vendors in AI Governance and Responsible AI.” Members of the company also serve on advisory boards for the Bank of England and the Monetary Authority of Singapore, among other government agencies.
To date, TruEra has raised over $45 MM from top-tier investors including Menlo Ventures, Greylock Partners, Hewlett Packard Enterprise and Wing Venture Capital, among others. The technology foundation for the company originated in academic research conducted by TruEra co-founders Anupam Datta and Shayak Sen at Carnegie Mellon University.
TruEra helps companies to build and maintain better ML models, faster. TruEra provides the first suite of AI Quality solutions that help enterprises analyze machine learning, improve and monitor model quality, and build trust. Powered by enterprise-class Artificial Intelligence (AI) Explainability technology based on six years of research at Carnegie Mellon University, the TruEra platform helps eliminate the black box surrounding widely used AI and ML technologies. This visibility leads to higher quality, explainable models that sustainably achieve measurable business results, address unfair bias, and ensure governance and compliance. To learn more, visit truera.com.
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