August 2, 2024 at 08:12AM
Protect AI, an AI and ML security firm, raised $60 million in Series B funding, bringing the total raised to $108.5 million. The investment, led by Evolution Equity Partners, will support their AI Security Posture Management platform, expansion of sales and customer support, R&D, and hiring 50 more specialists. The company aims to enhance AI security capabilities and serve customers globally.
From the meeting notes, I have gathered the following key points:
1. Protect AI, a company specializing in AI and machine learning security, announced raising $60 million in Series B funding, bringing their total raised capital to $108.5 million.
2. The investment was led by Evolution Equity Partners, with additional support from 01 Advisors, Acrew Capital, and other backers.
3. Protect AI’s AI Security Posture Management (AI-SPM) platform consists of five products, providing comprehensive security capabilities and machine learning environment management.
4. The platform includes features such as scanning of ML models for threats, AI/ML bill of materials, an AI/ML threat feed, and LLM security, observability, and governance capabilities.
5. Protect AI also offers security education, knowledge sharing, and supports identifying vulnerabilities in AI/ML open source projects through their Huntr threat research community.
6. The new funding will be utilized to improve the AI-SPM platform, accelerate growth through sales and customer support team expansion, advance R&D, and strengthen channel programs. The company also plans to hire 50 more specialists by the end of the year.
7. Protect AI recently acquired SydeLabs, a San Francisco-based AI security firm specializing in automated red teaming of GenAI systems.
Please let me know if anything else is needed.