Early stage investment company Antler Australia recently backed 13 startups as part of its ongoing program to invest in great local tech companies. Over the next six weeks, Startup Daily will share the details of each venture in the “Antler Investor Memos” series.
You can also meet the founders on the Startup Daily show on ausbiz.com.au every Monday and Wednesday over the next six weeks.
This series is designed to give you a quick sharp understanding of the startups and people involved, with many seeking follow up capital following Antler’s initial pre-seed investment.
Company : Avert AI
Stage of business: Pre-Seed
Founders: Chanelle McAuliffe, Philippe Aerdeman and Javed Sheikh
Current investors: Antler
Currently raising: Yes
What’s the pitch?
Noncompliance due to human error costs organisations millions in penalties, remediation, training and manual processes every year. Avert AI enables organisations to send compliant communications powered by artificial intelligence to improve customer experience and reduce risks, reputational damage, and costs.
Its real-time AI compliance writing assistant tool proactively empowers employees to write compliant and regulatory safe communications. By using natural language processing (NLP), Avert AI’s software analyses and detects risks, such as non-disclosure and privacy breaches within emails and documents, then provides rephrasing in real-time.
Antler investment thesis
“We’ve been impressed with Chanelle and Phil’s domain expertise and first hand experience with privacy mishandling and noncompliance breaches,” said Cath Rogers, Partner of Antler Australia.
“Accidental noncompliance and regulatory violations can cost enterprises millions, and lead to serious consequences. The ability to equip each employee with real-time feedback to de-risk privacy-focused customer communication is a powerful safeguard for organisations and the privacy of their customers.”
Traction/milestones, to date
Avert AI’s compliance and data privacy conversational AI is in the hands of its first customers, including a pilot project underway with an Australian online mortgage broker, UNO Home Loans.
In the coming months, Avert AI will launch its compliance writing assistant powered by NLP with intent detection, Personally Identifiable Information (PII) scanning and rephrasing capabilities.
Due diligence resources
Explore Avert AI’s pitch video and investor deck via The Antler Portfolio Reveal Platform.
Pre-Seed from Antler
Plans for the cash
The initial funding from Antler Australia has provided Avert AI with runway to launch a beta version of its product to secure early adopters and obtain ISO/IEC 27001 certification, the international standard on information security.
The founders say
“Our domain expertise in non-compliance breaches and financial services combined with NLP technology positions us to service this sector with a deep understanding of customer pain points to cement product-market fit,” said Chanelle McAuliffe, co-founder and CEO of Avert AI.
“Antler’s investment has provided validation that we are solving a business-critical problem and recognition from a global early-stage VC that our founding team is well-positioned to build the right solution.
“Beyond its initial investment, Antler has provided access to a huge knowledge base and resources that have ingrained an agile approach in our team. With its network across Australia and the world, it has created early interest and opportunities for us with well-renowned angels, VCs and stakeholders.
Antler, a global early-stage VC, recently showcased the latest investments it’s made in ambitious Australian founders and startups. Avert AI featured as one of Antler Australia’s newest portfolio companies.
Explore how Avert AI is enabling organisations to send compliant communications powered by artificial intelligence via the Antler Portfolio Reveal Platform.
- StartupDaily is the official media partner of Antler in Australia.
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