OpenAI · Anthropic · TechCrunch AI
Venice AI becomes a unicorn with $65 million Series A as its privacy-first AI platform takes off
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Concerns over the impact of AI chatbots on mental health, personal safety, harassment, and disinformation have forced AI developers to implement safeguards to better control how and what their AI models are allowed to respond or do.
Key facts
- Venice AI on Wednesday said it had raised a $65 million Series A at a $1 billion valuation, its first external fundraise
- The company is already profitable, with annualized run-rate revenues of over $70 million, its CEO Erik Voorhees (pictured above, in the center) told TechCrunch during an exclusive interview
- Venice AI, which offers access to more than 200 AI models while allowing users to retain their privacy, is raking it in thanks to that demand
- Concerns over the impact of AI chatbots on mental health, personal safety, harassment, and disinformation have forced AI developers to implement safeguards to better control how and what their AI
Summary
But concerns and worries can’t erode demand. Venice AI, which offers access to more than 200 AI models while allowing users to retain their privacy, is raking it in thanks to that demand. The startup hosts “uncensored,” open source models on its own data centers, and routes queries to closed-source models, such as those by OpenAI or Anthropic. The company is already profitable, with annualized run-rate revenues of over $70 million, its CEO Erik Voorhees (pictured above, in the center) told TechCrunch during an exclusive interview.