AI Security Firm, Protect AI, Secures $35M in Series A Funding Round to Safeguard AI and ML from Software Supply Chain Threats

SEATTLE, (VSNewsNetwork.com) - July 26, 2023 - Today, Protect AI, a company specializing in security for artificial intelligence (AI) and machine learning (ML), announced the successful close of its $35M Series A financing round. The round was led by Evolution Equity Partners, with contributions from Salesforce Ventures and existing investors Acrew Capital, boldstart ventures, Knollwood Capital, and Pelion Ventures. The funds raised will aid Protect AI in bolstering defenses for ML systems and AI applications against distinctive security vulnerabilities and threats. To date, the company has accrued $48.5M in funding.

Protect AI intends to allocate the new capital towards expanding sales and marketing, research and development, go-to-market initiatives, and customer success efforts. The company also announced the appointment of Richard Seewald, Founder and Managing Partner at Evolution Equity Partners, to the Protect AI Board of Directors. Seewald brings three decades of expertise in cybersecurity, enterprise software, and data analytics to the board. He said, "Protect AI’s founders have built and managed the largest AI/ML businesses in the world for AWS and Oracle, and have assembled one of the most accomplished teams I’ve seen in a startup. The company has the vision, technology, and expertise to capture a lion’s share of this new market category."

To counter the AI security challenges and risks posed to organizations, Protect AI has developed a platform named AI Radar. This tool aids in building safer AI by providing AI developers, ML engineers, and AppSec professionals with a means to understand and manage an ML environment.

Protect AI's CEO, Ian Swanson, expounded on the platform, "Protect AI provides new and innovative solutions, like AI Radar, that enable organizations to build, deploy, and manage safer AI by monitoring, detecting and remediating security vulnerabilities and threats in real-time."

AI Radar equips organizations with the capability to deploy safer AI, assess the security of their ML supply chain, and swiftly identify and mitigate risks. AI Radar's features include real-time visibility into an ML system's attack surface, an immutable ML Bill of Materials (MLBOM) for tracking all components in the ML system, and a security check mechanism to prevent leakages and vulnerabilities.

To find out more about Protect AI, visit www.protectai.com

Source: Protect AI via Business Wire