Toronto, Ontario — BMW i Ventures is investing US$10 million to acquire a stake in Qualytics, a U.S.-based startup using automation to improve the quality of enterprise data using artificial intelligence software.
Qualytics helps large companies improve data integrity through automated rule generation, continuous monitoring and real-time remediation. These capabilities are essential as AI continues to be used across multiple sectors. The goal is to reduce the time, cost and risk associated with using bad data.
“At its core, Qualytics solves a problem every data-driven organization thinks it’s managing, until the costs of bad data hit,” said Baris Guzel, BMW i Ventures partner, in a press release. “The dirty secret in today’s AI arms race is that most models are trained on unreliable inputs. Garbage in, garbage out. Qualytics flips that on its head. They bring continuous, automated data quality monitoring to the production layer and that’s a foundational shift.
Guzel says in order to get ahead with AI, a company must “instrument complexity without slowing velocity.” This is something he believes Qualityics does for data quality.
BMW i Ventures was joined in this investment round by Conductive Ventures, the Hill Fund by Firebrand Ventures, Tech Square Ventures, Inner Loop Capital, Knoll Ventures, Rich Family Ventures and SaaS Venture Capital.
