Protect AI Secures $60M in Series B Financing to Boost Security for Artificial Intelligence and Machine Learning

Protect AI, an artificial intelligence (AI) and machine learning (ML) security company, announced it has closed a $60M Series B round of funding, empowering the company to help organizations protect ML systems and AI applications from unique security vulnerabilities and emerging threats.

The funding round was led by Evolution Equity Partners with participation from 01 Advisors, StepStone Group, Samsung, and existing investors Acrew Capital, boldstart ventures, Knollwood Capital, Pelion Ventures, and Salesforce Ventures. To date, the company has raised a total of $108.5M.

According to the company, Protect AI will use the new financing to drive the next phase of innovation and capabilities for its customers, enhancing its AI security posture management platform.

This capital infusion will further accelerate the company's growth by expanding customer success and sales resources, advancing R&D, and strengthening channel programs.

Protect AI is positioned to extend its lead in the AI security market, providing unmatched protection for AI applications and systems worldwide, the company said.

“In less than 12 months Protect AI has built the leading AI security platform in the market by addressing AI risks end-to-end,” said Richard Seewald, founder and managing partner at Evolution Equity Partners. “By focusing on comprehensive AI security posture management that spans ML models, LLMs and AI supply chain threats, the company is now a trusted partner for national security organizations and Fortune 500 customers, alike.”

Since raising $35M in Series A funding one year ago, Protect AI has solidified its leadership in the AI security market.

The Protect AI security posture management (AI-SPM) platform is now used by private and public sector customers to secure traditional ML models, LLMs, ML systems, and AI applications. The platform has expanded from one to five products, becoming the most comprehensive end-to-end AI security solution available, according to the company.

“AI is being deployed across every industry at an accelerating pace, and organizations have realized they need security guardrails for these systems that are not being covered by incumbent security providers,” said Ian Swanson, co-founder and CEO of Protect AI. “This additional funding provides the resources to extend our technology lead by providing even more unique AI security capabilities for every element of AI-SPM, at every stage of the AI development lifecycle, and serve customers across the globe. Our mission is to lead the AI security category for years to come and help customers build a safer AI-powered world.”

Protect AI’s industry-leading AI-SPM solution offers comprehensive security capabilities such as Guardian, which scans internally built ML models and externally acquired models for threats, and Layer which is a dedicated GenAI security tool designed for LLM security, observability, and governance.

Additional services include Radar, providing AI/ML bill of materials with a robust policy engine, and Sightline, which is an AI/ML threat feed derived from the unique supply chain research conducted by the 15K-plus Protect AI huntr community.  

Channel partners, integrators, and resellers will also benefit significantly from the Protect AI platform and continued product advancements. By leveraging Protect AI's comprehensive AI-SPM platform, partners can ensure their clients' AI environments are secure, compliant, and resilient against threats, the company said.

For more information about this news, visit https://protectai.com/.