Company Profile: MOSTLY AI

Background

Overview

Founded in 2017 in Vienna, Austria, by data scientists Michael Platzer, Klaudius Kalcher, and Roland Boubela, MOSTLY AI specializes in generating high-quality synthetic data. The company leverages artificial intelligence to create data that mirrors real-world datasets, enabling organizations to utilize information without compromising individual privacy. This approach addresses challenges associated with traditional data anonymization methods, especially in light of stringent regulations like the General Data Protection Regulation (GDPR) implemented in Europe in 2018.

Mission and Vision

Mission: To enable organizations to thrive ethically and responsibly with smart and safe synthetic data.

Vision: To empower all people to build a smarter and fairer future together for the benefit of everyone.

Key Strategic Focus

Core Objectives

MOSTLY AI aims to revolutionize data utilization by providing synthetic data solutions that preserve privacy while maintaining the utility of real data. The company's focus is on enabling businesses to harness data for analytics, machine learning, and software testing without exposing sensitive information.

Areas of Specialization

Synthetic Data Generation: Creating realistic and representative synthetic datasets that reflect the patterns and behaviors of actual customers.

Privacy Preservation: Ensuring data privacy compliance by generating data free from original personal identifiers.

Industry Applications: Serving sectors such as finance, insurance, telecommunications, and healthcare, where data sensitivity and regulatory compliance are paramount.

Key Technologies Utilized

Artificial Intelligence and Machine Learning: Employing advanced AI models to learn and replicate complex data structures.

Generative Deep Neural Networks: Utilizing deep learning techniques to generate synthetic data that retains the statistical properties of real datasets.

Primary Markets Targeted

MOSTLY AI primarily targets large enterprises in highly regulated industries across Europe and North America, including Fortune 100 banks, insurers, and telecommunications companies.

Financials and Funding

Funding History

Seed Round (November 2018): Raised an undisclosed amount led by 42CAP.

Series A (February 2020): Secured an undisclosed amount led by Earlybird Venture Capital.

Series B (January 2022): Raised $25 million led by Molten Ventures, with participation from Citi Ventures.

Total Funds Raised

As of January 2022, MOSTLY AI has raised a total of $31.1 million across three funding rounds.

Notable Investors

Molten Ventures: Led the Series B funding round.

Citi Ventures: Participated in the Series B funding round.

Earlybird Venture Capital: Led the Series A funding round.

42CAP: Led the Seed funding round.

Utilization of Capital

The funds have been allocated to enhance product features, expand the team, and accelerate growth in Europe and the U.S. The company planned to increase its global employee headcount from 35 to 65 by the end of 2022.

Technological Platform and Innovation

Proprietary Technologies

Synthetic Data Engine: Utilizes generative deep neural networks to create synthetic datasets that maintain the statistical properties of original data while ensuring privacy.

Significant Scientific Methods

Agentic Data Science: Incorporates AI-powered insights to analyze data using natural language inputs, facilitating data analysis without extensive coding.

Leadership Team

Tobias Hann: Chief Executive Officer.

Michael Platzer: Founder & Chief Strategy Officer.

Mario Scriminaci: Chief Product Officer.

Roland Boubela: Co-Founder.

Competitor Profile

Market Insights and Dynamics

The synthetic data market is experiencing significant growth, driven by increasing data privacy regulations and the need for high-quality data in AI and machine learning applications. Gartner predicts that by 2024, 60% of the data used for AI and analytics projects will be synthetically generated.

Competitor Analysis

Tonic.ai: Provides tools for generating realistic, production-like test data that preserves privacy and compliance.

Gretel.ai: Offers APIs to fine-tune custom AI models and generate synthetic data on-demand.

Hazy: Specializes in generating smart synthetic data that serves as a drop-in replacement for real data in analytics workloads.

Syntho: Provides deep learning software for generating synthetic data twins, enabling data sharing without privacy concerns.

Strategic Collaborations and Partnerships

Databricks: Established a partnership to enhance data solutions and integration capabilities.

KDnuggets: Collaborated to promote data democratization and synthetic data applications.

Operational Insights

Competitive Advantages

ISO Certification: Achieved ISO certification in November 2021, demonstrating a commitment to data security and quality standards.

Enterprise Focus: Tailors solutions to meet the complex needs of large enterprises in regulated industries.

Technological Innovation: Leverages advanced AI and machine learning techniques to produce high-fidelity synthetic data.

Strategic Opportunities and Future Directions

Expansion Plans

MOSTLY AI aims to broaden its market presence by targeting smaller organizations and a wider range of sectors beyond its current focus on large enterprises. The company is also exploring applications in the healthcare sector through pilot projects initiated in 2022.

Product Development

The company plans to enhance its platform's capabilities, including the development of features that facilitate data analysis and sharing across teams, thereby accelerating AI innovation and decision-making processes.