Mind Foundry

About Mind Foundry

Mind Foundry is an artificial intelligence company spun-out from the University of Oxford in 2016. The founders, Professors Stephen Roberts and Michael Osborne, are leading academics in the Machine Learning Research Group at the university. Their extensive research in areas like Bayesian inference and signal processing forms the scientific foundation of the company. The firm specializes in developing AI solutions for high-stakes applications where decisions have significant consequences, operating primarily in the insurance, infrastructure, and defence sectors.

The company's core offering is the Mind Foundry Platform, an enterprise software that enables organizations to design, test, deploy, and monitor their own responsible AI models. The platform is designed to be used by data scientists and business users alike, with a focus on human-AI collaboration and explainability, ensuring that the reasoning behind automated decisions is transparent. Its technology addresses complex, real-world problems such as fraud detection, pricing optimization, claims management, and infrastructure health monitoring. For example, it increased the detection of fraudulent insurance claims for one major insurer by 120%. The business model appears to be centered on providing this platform as a service to large enterprises and public sector organizations.

Mind Foundry has secured significant funding to support its growth, raising a total of $46.5 million over five rounds. A notable Series A round in 2020 raised $13.6 million, led by Aioi Nissay Dowa Insurance (ANDI), marking a strategic partnership in the insurance sector. This was followed by a $22 million Series B round in 2023. The company appointed Brian Mullins as CEO in 2019, an entrepreneur with experience in scaling high-growth technology companies. As of June 2025, Jiro Okochi serves as the Chairman and Interim CEO.