April 6, 2024 at 10:06PM
TrojAI, a Canadian-based AI security firm, has secured $5.75 million in additional seed capital, led by Flying Fish and with support from Build Ventures, Techstars, Alteryx Ventures, and Flybridge Capital Partners. The investment will help the company develop its AI security platform, expand to the U.S., and appoint Lee Weiner, formerly of Rapid7, as CEO.
From the meeting notes, here are the key takeaways:
1. TrojAI, an enterprise AI security solutions provider, secured a $5.75 million funding round of additional seed capital.
2. The company is based in Saint John, NB (Canada) and offers an AI security platform to help customers secure AI models and applications from risks and attacks.
3. TrojAI’s platform assists organizations in complying with benchmarks such as the OWASP AI framework and privacy regulations by testing models before deployment and protecting applications from sensitive data loss post-deployment.
4. The additional capital will be utilized to support product development, sales, and marketing efforts, as well as to expand operations to the U.S. through the establishment of a new office in Boston, Massachusetts.
5. The funding round was led by existing investor Flying Fish, with participation from current investors including Build Ventures and Techstars, as well as new investors Alteryx Ventures and Flybridge Capital Partners.
6. Lee Weiner has been appointed as CEO of TrojAI, bringing with him extensive experience from his previous roles at companies such as Rapid7, LogMeIn, Symantec, and Netegrity.
These takeaways summarize the main points from the meeting notes.