Lazarus AI, a provider of production AI for heavily regulated organisations, has secured $43m in fresh funding to scale a platform designed to let enterprises run advanced AI without surrendering ownership of their data, models or costs.
The round drew support from a broad group of backers, among them QBE, Mucker Capital, Motivate Ventures, State Farm Ventures, Wave Function Ventures, Indelible Solutions, Joyance Partners, AllegisNL Capital, One Way Ventures, AngelList, Techstars and Plug and Play, alongside additional investors.
The presence of insurance heavyweights such as QBE and State Farm Ventures on the cap table signals interest from the regulated sectors that make up much of the firm’s client base.
Lazarus counts insurers, government bodies and technology businesses among its users, supporting live AI deployments in three distinct domains. Its Applied Intelligence System analyses complex documents and links each finding back to the originating page. Across 150 client use cases, the company reports that it has lifted field-level accuracy by 12.5 points compared with standalone models.
In security, the Clearwing product scans source code for weaknesses, recreates the issues it detects, assesses the strength of the supporting evidence and recommends a remedy, while leaving engineers to decide when any fix is deployed.
A third offering, Constructor, extracts business logic from legacy systems built decades ago and produces modern code shown to behave identically to the original. Two of the largest mainframe manufacturers globally are currently piloting the tool.
The company’s core proposition centres on giving organisations authority over how AI is used, with clients retaining command of their data, models, deployment choices and spending.
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