Protect AI, a leading AI and machine learning security firm, has raised $60 million in Series B funding, bringing its total to $108.5 million. This round of funding was led by Evolution Equity Partners, with additional support from 01 Advisors, Acrew Capital, Boldstart Ventures, Knollwood Capital, Pelion Ventures, StepStone Group, Samsung, and Salesforce Ventures.
The company’s AI Security Posture Management (AI-SPM) platform, which consists of five key products, provides comprehensive security and management capabilities for machine learning environments. These include scanning for threats in ML models, an AI/ML bill of materials, a threat feed, LLM security, and observability and governance tools. Protect AI also offers AI security education and supports open-source project vulnerability identification through its Huntr threat research community, with over 15,000 members.
With the new funding, Protect AI plans to enhance its AI-SPM platform, expand research and development, and bolster its sales and customer support teams. The company also aims to strengthen its channel programs and continue its rapid team growth, with plans to hire 50 more specialists by the end of the year.
The funding announcement follows Protect AI’s acquisition of SydeLabs, a San Francisco-based AI security firm specializing in automated red teaming of GenAI systems. According to CEO Ian Swanson, the additional funding will enable the company to continue leading the AI security sector and help create a safer AI-powered world.
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