Protect AI, a premier provider of security solutions for artificial intelligence (AI) and machine learning (ML) systems, has successfully raised $60 million in its Series B funding round. Evolution Equity Partners spearheaded this financing, with additional backing from 01 Advisors, StepStone Group, Samsung, and continued support from existing investors including Acrew Capital, boldstart ventures, Knollwood Capital, Pelion Ventures, and Salesforce Ventures. This investment boosts Protect AI’s total capital to $108.5 million, reinforcing its position as a leader in AI security.
The new funds will be instrumental in advancing Protect AI’s cutting-edge AI Security Posture Management (AI-SPM) platform. The company plans to enhance its capabilities in safeguarding AI applications and systems, accelerating research and development, expanding customer support, and boosting sales efforts. This strategic expansion aims to address the escalating security challenges associated with AI technologies.
Ian Swanson, CEO and Co-Founder of Protect AI, remarked, “This funding is a significant milestone for us, allowing us to extend our technology leadership and provide even more comprehensive security solutions for every stage of the AI development lifecycle. Our mission is to ensure that AI systems are secure, resilient, and trusted, protecting our customers worldwide.”
Richard Seewald, Founder and Managing Partner at Evolution Equity Partners, expressed confidence in Protect AI’s trajectory, stating, “Protect AI has rapidly emerged as a leader in the AI security sector by delivering an all-encompassing solution that addresses diverse AI security threats. Their platform’s growth and innovation reflect their commitment to securing the AI ecosystem.”
Editorial Perspective:
The rise of AI and ML technologies brings unparalleled opportunities, but it also introduces complex security risks that must be managed proactively. Protect AI’s comprehensive approach to AI security—ranging from ML model protection to generative AI oversight—positions it at the forefront of this critical industry. The company’s significant investment and strategic acquisitions, including the recent addition of SydeLabs, underscore its commitment to innovation and leadership in AI security.
As AI continues to permeate various sectors, Protect AI’s holistic solutions are crucial in setting new standards for safeguarding these technologies. Their success not only reflects their own strategic vision but also highlights the growing need for specialized security measures in an increasingly AI-driven world.Protect AI, huntr, and MLSecOps.
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