Artificial intelligence (AI) and machine learning (ML) security firm Protect AI on Thursday announced raising $60 million in Series B funding, which brings the total raised by the company to $108.5 million.
The new investment round 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 includes five products, provides customers with comprehensive security capabilities and ML environment management.
The solution provides scanning of ML models for threats, AI/ML bill of materials, an AI/ML threat feed, and LLM security, observability, and governance capabilities.
Protect AI also offers AI security education and knowledge sharing, and supports identifying and addressing vulnerabilities in AI/ML open source projects through its Huntr threat research community, which has more than 15,000 members.
The company will use the new funding to improve its AI-SPM platform and accelerate growth by growing sales and customer support teams, advancing research and development (R&D), and strengthening channel programs.
Building on a 300% year-over-year team growth, the company also plans to hire 50 more specialists by the end of the year.
“This additional funding provides the resources to extend our technology lead by providing even more unique AI security capabilities for every element of AI-SPM, at every stage of the AI development lifecycle, and serve customers across the globe. Our mission is to lead the AI security category for years to come and help customers build a safer AI-powered world,” Protect AI co-founder and CEO Ian Swanson said.
The Series B funding announcement came hot on the heels of Protect AI acquiring SydeLabs, a San Francisco-based AI security firm providing automated red teaming of GenAI systems.
Related: Cyber Insurance Provider Cowbell Raises $60 Million
Related: Cryptography Firm Zama Raises $73 Million for FHE Solution
Related: Zip Raises $7.7 Million to Expand SMB Cybersecurity Business
Related: Hypr Raises $25 Million for Passwordless Authentication Platform
