Fairgen

Company Overview

Snapshot

Founded in April 2022 by Benny Schnaider, Samuel Cohen, and Michael Cohen, Fairgen operates with 11–50 employees. The company has successfully raised $10.5 million across three funding rounds from eight investors, with its Seed round in May 2024.

Business overview

Fairgen develops an AI-based solution designed to address algorithmic bias in data. The company's core technology leverages synthetic data generation to remove demographic biases from datasets. Fairgen's software caters to the increasing demand for fairness across various industries, including banking, insurance, recruitment, and polling, providing solutions for consumer and shopper insights, customer experience, brand and marketing, political research, and employee experience.

Strategic signal

Fairgen's $8 million Seed funding round in May 2024, led by Maverick Ventures Israel, signals strong investor confidence in its AI-powered synthetic data generation technology. This capital infusion validates the market's growing need for solutions that tackle algorithmic bias, positioning Fairgen for accelerated development and expansion into new industries seeking to ensure fairness and accuracy in their data-driven operations.

Company Intelligence Q&A

When was Fairgen founded?

Fairgen was founded in April 2022.

Who are the founders of Fairgen?

Fairgen was co-founded by Benny Schnaider, Samuel Cohen, and Michael Cohen.

What was Fairgen's most recent funding round?

In May 2024, Fairgen raised an $8 million Seed round. Maverick Ventures Israel was a lead investor in this round.

What is Fairgen's total capital raised?

Fairgen has raised a total of $10.5 million across three funding rounds.

What problem does Fairgen's technology address?

Fairgen develops an AI-based solution to tackle algorithmic bias in data by using synthetic data generation to remove demographic biases from datasets.