Seattle – Protect AI, an AI and ML security company, announced that it had closed a USD 35 million Series A round of funding, which Evolution Equity Partners led and included Salesforce Ventures as well as previous backers Acrew Capital, boldstart ventures, Knollwood Capital, and Pelion Ventures. The startup has raised a total of USD 48.5M to assist businesses in defending ML systems and AI applications against particular security flaws, data breaches, and new threats.
With the additional funding, Protect AI plans to expand its customer success, R&D, and go-to-market strategies. According to the firm, Richard Seewald, the founder and managing partner of Evolution Equity Partners, was also welcomed to the Protect AI Board of Directors. He offers to the Board more than three decades of experience in enterprise software, data analytics, and investment, operational, and entrepreneurial activities.
None of the biggest cybersecurity providers in the market presently provide a solution to this issue, despite the enormity of the AI/ML security dilemma, according to Evolution Equity Partners’ founder and managing partner Richard Seewald. The founders of Protect AI have put together one of the most competent teams I’ve ever seen in a startup, and they have established and managed the most significant AI/ML businesses in the world for AWS and Oracle. The business is equipped with the insight, know-how, and resources to dominate this emerging market segment.
Even the most cutting-edge businesses need to maintain an exhaustive inventory of all the resources and components used in their ML systems. Due to the rapid expansion of supply chain assets like core models and external, third-party training data sets and the fact that traditional security tools cannot see the dynamic nature of ML systems and data pipelines, these issues have arisen. Additionally, most firms need more knowledge and resources to identify the risks and weaknesses in the ML Supply chain. Regulatory compliance, PII leaks, data manipulation, model poisoning, infrastructure protection, and reputational risk are just a few of the threats that organizations are exposed to due to this blindspot, presenting unique AI security issues.
By giving AI developers, ML engineers, and AppSec specialists a method to see, know, and control an ML environment, Protect AI has created a platform called AI Radar that aids enterprises in creating safer AI. Customers can maintain a strong security posture for ML systems and AI applications by using AI Radar to swiftly detect issues, address them, and identify potential threats.
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