Protect AI Secures $60M Series B for AI Security Platform

Seattle, WA - Protect AI, a Seattle-based artificial intelligence (AI) and machine learning (ML) security company, announced it has raised $60 million in a Series B funding round, bringing its total funding to $108.5 million.

Evolution Equity Partners led the round, which included participation from 01 Advisors, StepStone Group, Samsung, and existing investors, including Acrew Capital, Bold Start Ventures, Knollwood Capital, Pelion Ventures, and Salesforce Ventures.

Protect AI plans to use the new capital to enhance its AI security posture management platform, expand customer success and sales resources, advance research and development, and strengthen channel programs.

The company, founded by former AWS and Oracle AI executives, offers an end-to-end AI security solution comprising five products. 

Both private and public sector customers use its platform to secure traditional ML models, large language models (LLMs), ML systems, and AI applications.

Protect AI did not disclose its post-money valuation or current revenue figures.

The firm has made four acquisitions and plans to add 50 more employees by the end of 2024, building on its 300% year-over-year team growth.