Who founded Armilla AI?

Armilla AI was founded by Dan Adamson, Karthik Ramakrishnan, Baiju Hasmukhrai Devani in 2020.

Who are Armilla AI's investors?

Armilla AI's investors include Beresford Ventures, Betaworks, Creative Destruction Lab (CDL), Differential Ventures, Mistral Venture Partners, MS&AD Ventures, Rebel Fund, Y Combinator and 7 more.

How much funding has Armilla AI raised?

Armilla AI has disclosed $3.6M raised across 2 rounds.

Where is Armilla AI headquartered?

Armilla AI is headquartered in Toronto, CA.

Armilla AI

YC W22

Toronto, CA · Founded 2020 · Ontario, Canada corporation · 14 employees · 15 known investors

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Armilla AI is a managing general agent offering liability coverage, performance warranties, and risk assessments for AI systems. The company helps enterprises and AI vendors deploy artificial intelligence safely through model validation, governance, and insurance products.

AI & Machine Learning Data & Infrastructure Enterprise Software Fintech InsurTech Artificial Intelligence Generative AI InsuranceCanadaAmerica / CanadaPartly Remote

Founders & leadership· Y Combinator alumni (W22)

Armilla AI was founded in 2020 by Dan Adamson, Karthik Ramakrishnan, and Baiju Hasmukhrai Devani.

Dan Adamson Co-founder · Armilla AI2021–2024Dan Adamson co-founded Armilla AI and previously founded OutsideIQ, which was acquired by Exiger in 2017, where he developed AI solutions for financial institutions and regulators. He also served as Chief Architect at Medstory, an AI search startup acquired by Microsoft, and holds an MS degree from UC Berkeley.

Karthik Ramakrishnan CEO and FounderHe previously served as VP of go-to-market at Element AI, where he oversaw AI solutions for financial institutions and regulators, and earlier co-founded Blu Trumpet and Gallop Labs while holding roles in product and strategy at Deloitte.

Baiju Hasmukhrai DevaniCo-founder

Baiju DevaniFounder

Rahm Hafiz

Board

Raif Barbaros Board MemberPartner at Mistral Venture Partners

Investors · 15

Beresford Ventureslisted by Beresford VenturesOrlando

Betaworkslisted by BetaworksNew York · $250K – $750K

Creative Destruction Lab (CDL)listed by Creative Destruction Lab (CDL)Toronto · $50K – $250K

Differential Ventureslisted by Differential VenturesNew York · $250K – $3M

How we know: Differential Ventures's portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us

Mistral Venture Partnerslisted by Mistral Venture PartnersTorontovia Raif Barbaros · board

How we know: Mistral Venture Partners's portfolio page · board seat on SEC Form D · press coverage · the VCSheet dataset · Y Combinator's founder network · Not right? Tell us

MS&AD Ventureslisted by MS&AD VenturesMenlo Park · $500K – $3M

How we know: MS&AD Ventures's portfolio page · a partner's Signal profile · funding news · press coverage · open dataset · 5k.vc investor directory · Y Combinator's founder network · Not right? Tell us

Rebel Fundlisted by Rebel FundSan Francisco · $100K – $5M

How we know: Rebel Fund's portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us

Y Combinatorlisted by Y CombinatorSan Francisco · $500K

How we know: the Y Combinator directory · funding news · press coverage · open dataset · 5k.vc investor directory · Not right? Tell us

AccomplicereportedBoston · $5M – $25M

How we know: Y Combinator's founder network · Not right? Tell us

Andros15 VenturesreportedSeattle

How we know: Y Combinator's founder network · Not right? Tell us

BDC Venture CapitalreportedMontreal · $365K – $25.6M

How we know: Y Combinator's founder network · Not right? Tell us

Greenlight RereportedGrand Cayman

How we know: press coverage · Y Combinator's founder network · Not right? Tell us

Morgan Creek CapitalreportedChapel Hill · $1M – $5M

How we know: the VCSheet dataset · Y Combinator's founder network · Not right? Tell us

SixThirty VenturesreportedSt. Louis · $100K – $250K

How we know: funding news · press coverage · the VCSheet dataset · Y Combinator's founder network · Not right? Tell us

Two Small Fish VenturesreportedToronto · $1M – $3M

How we know: press coverage · Y Combinator's founder network · Not right? Tell us

Reported raises · per SEC filings

Form D private placements

$3.6M disclosed across 2 rounds · 2023–2025

▶$1.3MraisedJun 2025 · 4 investors · Other Technology

Rule 506(b)

Officers, directors & promoters on the filing

Karthik RamakrishnanExecutive Officer, Director
Baiju Hasmukhrai DevaniExecutive Officer, Director
Raif BarbarosDirector

Offering amount: $3.5M
Amount sold: $1.3M
First sale: Jun 2025
Incorporated: Corporation, Ontario, Canada, 2020
Federal exemptions: 06b

Full filing on SEC EDGAR ↗

▶$2.3MraisedJan 2024 · 9 investors · Other Technology

Rule 506(b)

Officers, directors & promoters on the filing

Karthik RamakrishnanExecutive Officer, Director
Dan AdamsonExecutive Officer, Director
Raif BarbarosDirector

Offering amount: $2.3M
Amount sold: $2.3M
First sale: Dec 2023
Incorporated: Corporation, Ontario, Canada, 2023
Federal exemptions: 06b

Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Related companies · 10

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Corgi InsuranceCorgi is an AI-native, full-stack insurance platform that provides modular business insurance coverage designed for technology companies. It handles underwriting, policy design, servicing, and claims administration to simplify the insurance experience.

AgentCollectAgentCollect provides AI agents that automate B2B commercial debt recovery by researching debtor accounts, identifying contacts, and executing multi-channel outreach via calls, email, SMS, and legal notices. The platform serves mid-market SaaS firms and Fortune 500 enterprises with success-only pricing and no integration required.

ArtificialArtificial provides a configurable software platform for specialty and reinsurance brokers and carriers to manage placement and underwriting workflows through integrated data tools and proprietary technology.

StackAIStackAI is a platform for building and orchestrating AI agents with enterprise-grade security and governance controls. It enables organizations to convert business processes into autonomous agents that integrate with existing systems, with features including human oversight, compliance certifications (HIPAA, GDPR, SOC 2), and deployment flexibility.

Tasker AITasker AI is an AI assistant that handles complex work and personal tasks through multi-step execution from a single user command.

BevayaBevaya develops AI agents for the insurance industry that integrate into existing business processes to automate and enhance operations. The company focuses on deploying large vision-language reasoning models tailored to industry-specific insurance use cases.

VouchVouch provides directors and officers (D&O) liability insurance designed for venture-backed companies navigating investor disputes, wrongful termination claims, and governance challenges. The company offers coverage that adapts to a company's growth stage and includes instant quoting and advisory services focused on term sheets and board dynamics.

Gradient HealthGradient AI develops underwriting and claims management software for group health, property & casualty, and workers' compensation insurance. The platform serves carriers, brokers, MGAs, TPAs, and PEOs.

Companies working in the same space as Armilla AI.

Legal entities · 1

corporate structure

Armilla AI Inc.

In the news

Armilla AI raises $25m to expand AI liability coveragefintech.global · Jan 2026

Y Combinator and Yoshua Bengio-backed Armilla AI secures $6 million CAD in new funding | BetaKitbetakit.com · Feb 2024

Armilla wants to give companies a warranty for AItechcrunch.com · Feb 2024

Frequently asked questions

What does Armilla AI do?: Armilla AI is a managing general agent offering liability coverage, performance warranties, and risk assessments for AI systems. The company helps enterprises and AI vendors deploy artificial intelligence safely through model validation, governance, and insurance products.
Who founded Armilla AI?: Armilla AI was founded by Dan Adamson, Karthik Ramakrishnan, Baiju Hasmukhrai Devani in 2020.
Who are Armilla AI's investors?: Armilla AI's investors include Beresford Ventures, Betaworks, Creative Destruction Lab (CDL), Differential Ventures, Mistral Venture Partners, MS&AD Ventures, Rebel Fund, Y Combinator and 7 more.
How much funding has Armilla AI raised?: Armilla AI has disclosed $3.6M raised across 2 rounds.
Where is Armilla AI headquartered?: Armilla AI is headquartered in Toronto, CA.