Lazarus AI Raises $43M to Advance Independent AI

Insider Brief

• Boston-based Lazarus AI has raised $43 million from investors including QBE, State Farm Ventures, Mucker Capital, Motivate Ventures, Techstars and Plug and Play, and will use the funding to expand strategic partnerships, invest in R&D and bring new products to market.
• The company runs production AI for insurers, government agencies and technology firms across document understanding, cybersecurity and legacy modernization, with its document system reportedly lifting field-level accuracy 12.5 points over standalone models and its Constructor tool now piloting with two of the world’s largest mainframe makers.
• CEO Alex Panait said customers keep sensitive data in-house and approve every model change, with the platform running on-premises, in sovereign environments or in a customer’s cloud without per-token charges, cutting annual operating costs 78% versus pay-per-use frontier models in a modeled high-volume scenario.

PRESS RELEASE — Lazarus AI announced $43 million in funding, with participation from QBE, Mucker Capital, Motivate Ventures, State Farm Ventures, Wave Function Ventures, Indelible Solutions, Joyance Partners, AllegisNL Capital, One Way Ventures, AngelList, Techstars, Plug and Play and others. Lazarus applies AI to consequential problems while customers keep control of data, models, deployment and economics.

“The opportunity in AI is enormous. So is the question of control: who chooses the models, where data runs, how costs behave, and whether an organization can still change direction,” said Alex Panait, CEO of Lazarus AI. “Our customers keep sensitive data inside their walls, approve every model change and see the evidence behind every result.”

Lazarus is trusted by the world’s largest and most regulated organizations, including insurers, government agencies and technology companies, to run production AI across three areas:

• Understanding complex documents. The Applied Intelligence System cites every finding to its source page and has raised field-level accuracy 12.5 points over standalone models across 150 customer use cases.
• Strengthening cybersecurity. Clearwing finds vulnerabilities in source code, reproduces them, grades the evidence and proposes a fix; engineers decide when it lands.
• Modernizing critical technology. Constructor recovers business logic from decades-old systems and generates modern code proven equivalent to the original, now in pilots with two of the world’s largest mainframe makers.

The platform runs on-premises, in sovereign environments or in a customer’s cloud, with no per-token charges and no rebuild when models or hardware change. In a modeled high-volume scenario, it cut annual operating costs 78% versus pay-per-use frontier models.

Lazarus will use the funding to expand strategic partnerships, invest in R&D and bring new products to market.

To bring Lazarus a real workload, visit lazarusai.com.

About Lazarus AI

Lazarus AI builds independent AI for enterprises and governments, from complex documents to cybersecurity and legacy modernization, while customers keep control of their data, models, deployment and economics. Headquartered in Boston, Lazarus serves insurers, healthcare, government and financial institutions across North America, Asia-Pacific and Europe. Independent AI for an Independent World.

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