AIR raises $6.1m to modernise private credit ratings with AI

Built by industry veterans from Moody’s, DataRobot, Goldman Sachs, and Morgan Stanley, AIR is working to replace the century-old, legacy credit ratings with an autonomous, AI-powered system that evaluates every company’s financial health, whether it’s public or private, every day.

Private credit now exceeds $2 trillion globally. Yet, the startup argues, for more than 100 years, credit ratings have been shaped by antiquated methodologies and static statistical models, making the process subjective, backward-looking, and slow to react.

It claims that it’s changing that, using advanced AI trained on decades of financial and alternative data to continuously detect early warning signs and re-rate companies in real time, giving investors, banks, and asset managers a transparent, bias free view of risk.

The firm has quickly gained traction with financial institutions managing over $4 trillion in assets, including CLOs, BDCs, banks, pension funds, and Fortune 500 enterprises including regulatory bodies.

Glenn Carvajal, CEO, AIR, says: “We built AIR to supercharge an analyst’s ability to not miss anything, the equivalent of an Iron Man suit that is always on, adaptive, and constantly learning. What we have developed is an intelligent framework that keeps getting better with every signal, allowing institutions to detect and understand credit risk in real time, not months later.”