Torch.AI, a global artificial intelligence (AI) firm that uses machine learning to enable massively scaled, ultra high performance data processing, has announced it raised $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, 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 the 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.
WestCap’s Tosi will join the Torch.AI board of directors, whose members include Weaver; William Beyer, founding member of Deloitte Consulting’s federal practice; and WestCap Principal Christian Schnedler.
“Over the past 20 years, we at WestCap have founded, operated and invested in more than 15 multi-billion-dollar companies including Airbnb, Ipreo, Skillz and iCapital, as well as cyber-security unicorns such as CarbonBlack and Cylance,” said Westcap Partner Kevin Marcus. “In Brian Weaver and the team at Torch.AI, we recognize the leadership, competitive advantage and innovative spirit they share with those great companies. WestCap is thrilled to be part of the growth and development of Torch.AI as it redefines the data infrastructure marketplace.”
Said Beyer: “We are proud to welcome WestCap to the Torch.AI family, and Laurence Tosi to our board of directors. Torch.AI is already an outlier – a fully U.S.-owned company, it’s profitable, and one of the only AI firms with federal certifications at the highest levels. Now, with the backing of one of the smartest investment firms in the country, Torch.AI will accelerate its growth and more rapidly scale to meet increasing customer demand.”
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 center in suburban Kansas City.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.