HiddenLayer, a cybersecurity firm specializing in AI protection, has achieved a remarkable milestone by raising $50 million in a Series A funding round. This funding round is the largest Series A investment secured by any cybersecurity company focused on safeguarding AI assets this year.
The Series A round was led by M12, Microsoft’s Venture Fund, and Moore Strategic Ventures. It also saw participation from well-known entities such as Booz Allen Ventures, IBM Ventures, Capital One Ventures, and Ten Eleven Ventures.
HiddenLayer, which emerged from stealth mode in July 2022, has made significant strides in the industry, forging key partnerships with tech giants like Intel and Databricks. The company has also received accolades, including being recognized as the Most Innovative Startup at RSAC and Most Promising Early-Stage Startup by SC Media. Today, HiddenLayer is dedicated to protecting AI models for Fortune 100 companies across various sectors, including finance, cybersecurity, and government defense.
The newly acquired funds will be used to further scale their mission. Chris Sestito, CEO and Co-Founder of HiddenLayer, emphasized their commitment to providing organizations with the tools and expertise needed to securely leverage AI.
Highlighting the significance of AI and ML security, a commissioned research report from Forrester revealed that 96% of organizations consider machine learning to be essential. However, there is a pressing concern as most still rely on manual procedures to mitigate threats to ML models.
HiddenLayer’s MLSec Platform offers a range of products designed to bolster AI against potential vulnerabilities and adversarial attacks. Among its offerings, the Machine Learning Detection and Response (MLDR) product stands out. It monitors AI algorithms for real-time defense, offering various response options, from alerting to misleading.
Todd Graham, Managing Partner at M12, Microsoft’s Venture Fund, expressed enthusiasm for the partnership, citing HiddenLayer’s essential platform for enterprises working with AI and ML.
Travis Bales, Managing Director at Booz Allen Ventures, also praised HiddenLayer’s platform and team for effectively securing AI against a wide range of threats, highlighting their vision and execution in developing security solutions for the emerging AI market.
HiddenLayer’s achievements include significant growth, with its team size quadrupling within a year. The company plans to add an additional 40 experts to its roster by the end of the year.
By FCCT Editorial Team