November 8, 2023 at 01:45PM
Protecto, a San Jose startup, has secured $4 million in seed funding to develop technology aimed at securing corporate AI deployments. The company plans to use the investment to hire engineering talent and expand its market initiatives. Protecto’s easy-to-use APIs aim to help organizations protect data and ensure compliance throughout the AI lifecycle. It joins a growing list of AI security companies attracting venture capital investments.
Meeting Notes Summary:
– Protecto, a Silicon Valley startup, has secured $4 million in seed-stage capital led by the Together Fund, with participation from Better Capital, FortyTwo VC, Arali Ventures, and Speciale Invest.
– Protecto aims to provide easy-to-use APIs to help organizations protect data and ensure compliance throughout the AI lifecycle.
– The company’s technology allows for the masking of sensitive personal data while preserving the original data format and meaning, enabling accurate AI results.
– The funding will be used to hire engineering talent and expand go-to-market initiatives.
– Protecto is part of a growing list of AI security companies attracting venture capital investments, including Hidden Layer, CalypsoAI, Harmonic, and KPMG-spinout Cranium.
– The increased investments in AI security coincide with the launch of OpenAI’s ChatGPT app and the growing interest in LLM and generative AI.
– Microsoft has introduced an AI-powered security analysis tool, while OpenAI has released a business edition of ChatGPT with enterprise-grade security measures.
– Harmonic has recently raised $7 million for securing generative AI deployments, HiddenLayer has raised $50 million, CalypsoAI has secured $23 million, and KPMG has created Cranium to address AI security.