Thread AI Raises $20 Million for Composable AI Platform

Thread AI raised $20 million in a Series A funding round to increase the adoption of its composable artificial intelligence platform that helps enterprises design, deploy and scale AI-powered workflows.

The platform, Lemma, enables organizations to connect AI models, data and automation in workflows that meet their specific needs, the company said in a Thursday (June 5) press release.

Lemma provides a solution for companies that would otherwise have to “settle for rigid, pre-built applications” or “invest heavily” in building custom AI workflows from scratch, Thread AI Co-founder and CEO Angela McNeal said in the release.

“Thread AI offers a flexible platform that lets organizations build AI workflows suited to their operations — without compromising scalability or security,” McNeal said.

Lemma enables enterprises to rapidly prototype and deploy AI workflows and agents without large infrastructure investments; supports unlimited AI models, application programming interfaces (APIs) and applications within a single platform; and maintains governance, observability and seamless AI model upgrades, according to the release.

Early users of the platform have expanded their AI implementations by at least 250%, per the release.

Mark Terbeek, partner at Greycroft, which led the company’s latest funding round, said in the release that enterprises need a “secure, scalable infrastructure that evolves with their business.”

“Thread AI provides a powerful, adaptable platform that helps organizations implement AI at scale,” Terbeek said.

Thread AI emerged from stealth in October, announcing that it launched Lemma and raised $6 million in seed funding. The company was founded by McNeal and Mayada Gonimah, who are former Palantir AI product and engineering leads.

The company said at the time in a press release that the average enterprise has more than 100 software products and that enterprises are concerned about deploying AI safely and securely, in part because they must know how their data is being used and where it is going.

Enterprises are turning to AI to automate not just repetitive tasks but also more complex processes like compliance monitoring, fraud detection and supply chain optimization, using tactics such as combining robotic process automation with AI to streamline workflows, PYMNTS reported in January.