Early stage investment firm Antler Australia recently supported 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 every Monday and Wednesday for the next six weeks on the Startup Daily show at ausbiz.com.au.
This series is designed to quickly give you a sharp insight into the startups and people involved, with many looking for follow-on capital after Antler’s initial pre-seed investment.
Company : Avert AI
Founded: 2022
Operating phase: Preseed
founders: Chanelle McAuliffe, Philippe Aerdeman and Javed Sheikh
Current investors: antlers
Currently increasing: Yes
What is the pitch?
Human error non-compliance costs organizations millions each year in fines, remediation, training and manual processes. Avert AI enables organizations to send compliant communications based on artificial intelligence to improve customer experience and reduce risk, reputational damage and costs.
The real-time AI compliance writing tool proactively empowers employees to write compliant and legal secure communications. Using Natural Language Processing (NLP), Avert AI’s software analyzes and detects risks, such as secrecy and privacy violations in emails and documents, then provides real-time reformulation.
Antler investment thesis
“We are impressed with Chanelle and Phil’s domain expertise and first-hand experience of privacy abuse and non-compliance,” said Cath Rogers, Partner of Antler Australia.
“Unintentional non-compliance and regulatory violations can cost companies millions and have serious consequences. The ability to provide every employee with real-time feedback to reduce privacy-focused customer communications is a powerful safeguard for organizations and the privacy of their customers.”
Traction/milestones, so far
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 be launching its compliance writing assistant powered by NLP with intent detection, personally identifiable information (PII) scanning and reformulation capabilities.
Due Diligence Resources
Explore Avert AI’s pitch video and investor deck via The Antler Portfolio Disclosure Platform.
Financing Phase
Pre-Seed from Antler
Plan for the money
Antler Australia’s initial funding has given Avert AI a runway to launch a beta version of its product to secure early adopters and gain ISO/IEC 27001 certification, the international standard for information security.
The founders say:
“Our domain expertise in non-compliance breaches and financial services combined with NLP technology enables us to serve this industry with a deep understanding of customer pain points to strengthen product-market fit,” says Chanelle McAuliffe, co-founder and CEO of Avert AI.
“Antler’s investment has confirmed to us that we are solving a mission-critical problem and recognized by a global fledgling VC that our founding team is well positioned to build the right solution.
“In addition to the initial investment, Antler has provided access to a vast knowledge base and resources that have ingrained an agile approach into our team. With its network across Australia and the world, it has created early interest and opportunity for us among renowned angels, VCs and stakeholders.
What’s next?
Antler, an early stage global VC, recently showcased its latest investments in ambitious Australian founders and startups. Avert AI was one of Antler Australia’s newest portfolio companies.
Learn how Avert AI is enabling organizations to send AI-powered compliant communications over the Antlers Portfolio Reveal Platform.
- StartupDaily is Antler’s official media partner in Australia.
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