Justifai Inc.

Raising $1M to create a future where ethical, privacy-preserving, and trustworthy AI enables organizations to solve business and societal challenges.

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Justifai is a low-code AI platform enabling organizations to design and build privacy-preserving and compliant AI solutions. 

Investment Highlights 
  • Focus market: Healthcare/Life Science: The 350K mHealth app market represents $175M ARR when onboarding 0.5% on Justifai.
  • Robust product: Active Patent is a unique low-code platform combining AI innovation and AI governance. 
  • Strong traction: 4 paying customers in first months, pipeline with $1M ARR by Aug ‘24
  • Experienced team: legal, AI, and Sales from Omina Technologies, Microsoft, Showpad, …
  • Financial model: available upon request
  • Investment: $1M SAFE round.
Problem 
Complexity and increased regulation are impacting AI innovation. Healthcare companies want to adopt AI to improve health outcomes and patient experiences. 
  • AI regulations are increasing development & maintenance costs. 
  • Only 13% of AI models run in production due to complexity.
  • AI talent scarcity is increasing costs and slowing down time to market.
Solution
Introducing Justifai, the only platform combining auto-machine learning, machine learning operations, and AI governance, enables healthcare organizations to build privacy-preserving and compliant AI solutions by design. Benefits for customers: 
  • Save time: Develop new AI solutions faster.
  • Save money: 60% cheaper than the traditional approach.
  • Manage risk: compliant by design.
Product 
Justifai Platform: A low-code workflow from requirements to new compliant AI solutions: 
  1. Collaborative AI: Stakeholder requirements gathered in hours vs weeks/months.
  2. Proactive AI Governance: Dynamically enforce compliance risk controls on the AI solution pipelines.
  3. Auto-generated AI Solutions: Generate automatically compliant-by-design AI solutions.
  4. Monitor and Audit: Easily demonstrate compliance and generate audit & conformity assessments with just one click.
Market Sizing 
The AI market is rapidly growing, reaching $1.8T by 2030; for Healthcare/Life Science alone, this represents $280B growing at 30.6% CAGR (Source). Our bottom-up calculation: 
  • 350K mHealth apps in the US and Europe (Source: Grandview Research
  • $100K ARR average deal size per app. 
  • $175M ARR when converting 0.5% (1750 apps).
Our objective is to expand to other industries, like banking, insurance, and others, at a later stage.

Traction 
We've experienced substantial growth in our first months. 
  • Justifai is a spin-off from an established company, Omina Technologies BV (founded in 2016)
  • Patent filed in 2020 (EU), extension to the US in 2021
  • Four active customers, including a Fortune 200 company (Roche)
  • Several deals in the pipeline give us a clear runway to $1M ARR by summer 2024

Growth Strategy 
The primary focus will be on customer acquisition. We will focus our Sales & Marketing on the following tactics: 
  • Focused SEO, Google-Ads and LinkedIn-Ads
  • Thought Leadership content: e-books, webinars
  • Leverage readiness and assessments as our lead magnets
  • Outbound Sales
  • Channel: establish strategic partnerships with consultancy firms and digital app development studios
  • Referrals: provide customers with a Compliance dashboard they can publish on their website
Financials 
Detailed financial model available upon request

Funding 
We’re raising $1M SAFE. 
  • Prior Funding: Spin-off from Omina Technologies BV (founded in 2016)
  • Current Raise: $1M SAFE. 
    • Fund engineering to accelerate product roadmap and Sales and marketing to grow the US and EU markets.

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