Go.AI announced it has raised $85 million in Series A funding, pushing its total funding to $90 million as the company pushes further into a niche corner of the artificial intelligence market: hardware and software that lets regulated companies run AI models entirely on their own premises, without shipping sensitive data out to a third party.
The round was led by Updata Partners, with participation from existing investors GFT Ventures and LAUNCH, according to Go.AI. The announcement, first detailed by the company on September 22, also confirmed that Go.AI rebranded from its former name, Go Abacus, earlier this month. As reported by citybiz, Updata Partners led the round from its Washington, D.C. base, while GFT Ventures, based in Palo Alto, California, and LAUNCH also participated.
Go.AI says it now serves more than 200 customers, with on-premises deployments processing more than 12.5 million queries a day across finance, healthcare, aerospace and defense, and manufacturing. The company describes its pitch as a way for companies to deploy AI without sending proprietary data to external providers or paying usage-based token fees, letting customers run AI workloads inside their own environments while retaining control over data and infrastructure, per citybiz's reporting on the deal.
A Hardware Bet Alongside the Software
Central to the round is The Go1, which Go.AI describes as the industry's first on-prem AI hardware and software solution built for regulated organizations. The Go1 is a physical, on-premises AI appliance that combines Go.AI's Go.OS software with dedicated hardware, and the company says it is designed to let regional banks, credit unions and hospitals deploy local AI models without having to build out specialized internal AI teams, according to citybiz.
Go.AI says its platform is built to operate inside customers' existing systems and governance frameworks, an approach the company frames as suited to environments where control, auditability, and regulatory readiness are essential. The company says it remains profitable and reports that its annual recurring revenue has grown more than eightfold year over year, though those figures have not been independently verified beyond the company's own statements.
Leadership and What Comes Next
David Moscatelli, co-founder and CEO of Go.AI, said the new funding will let the company continue building at scale, according to citybiz's report. Lisa Gillespie serves as the company's co-founder and chief operating officer. Go.AI currently has more than 50 team members, per the same report.
The company said the $85 million will go toward expanding its engineering team, accelerating development of both Go.OS and its hardware line, and scaling go-to-market efforts, according to Go.AI's own announcement. The company frames its broader mission as helping regulated industries harness AI while maintaining what it calls the highest standards of security and compliance, though no independent regulatory findings or certifications were cited in connection with those claims.
Updata Partners' Track Record
Updata Partners is a Washington, D.C.-based growth-equity firm focused on technology companies, and it holds more than $3 billion in committed capital while managing over $1.5 billion in assets, according to citybiz. The firm typically invests between $20 million and $200 million in growth-stage B2B software and software-driven businesses, and it recently closed its latest fund at $875 million.
The firm's other portfolio includes Hi Rasmus, a behavioral-health outcomes platform; Vertical Insure, an embedded-insurance software provider for vertical SaaS companies; and TitanX/TitanOS, a technology distribution platform, per citybiz's reporting. Those investments give a sense of Updata's broader appetite for specialized, compliance-heavy software plays, a category Go.AI's on-premises pitch fits squarely into.
