On September 15, 2021, Private AI announced it had completed its $3.15 million seed funding round co-led by Microsoft’s venture capital arm, M12 and Forum Ventures, with participation form astronaut Chris Hadfield, Differential Ventures, Shasta Ventures, Hyperplane Venture Capital and Parliament Angels. The funding from the oversubscribed seed round will be used to double its team, expand its technology offering and accelerate the acquisition of domestic and international customers.
Private AI is a Toronto-based software company focused on developing privacy-preserving machine learning and natural language processing tools.
M12 is Microsoft’s venture capital arm, focused on investments in early-stage enterprise software companies.
Osler, Hoskin & Harcourt LLP advised M12 with a team consisting of Jacob Young, Frank Turner, Lindsay Hofer and Michael Pede (Corporate).