At a glance.
- Protect AI raises $60 million and acquires SydeLabs.
- Credo AI secures $21 million.
Mergers and acquisitions.
New York City-based supply chain risk management company Exiger has acquired Canadian supply chain risk visibility platform provider aDolus Technology. The company stated, "This acquisition enhances Exiger's software supply chain visibility capabilities by integrating aDolus' ability to generate software bills of material (SBOMs) and analyze binary for software provenance. This capability extends Exiger's Ion Channel platform for SBOM analysis to binaries that have no SBOMs, as well as device firmware, operational technology (OT) and IoT."
Seattle-headquartered AI security firm Protect AI has acquired SydeLabs, an India-based company that performs red-teaming attacks against generative AI systems. The company stated, "This strategic acquisition enhances Protect AI's platform ability to test and improve LLM security and extends the company’s lead as the only provider of end-to-end AI security solutions."
Investments and exits.
Protect AI has raised $60 million in a Series B round led by Evolution Equity Partners, with participation from 01 Advisors, StepStone Group, Samsung, and existing investors Acrew Capital, boldstart ventures, Knollwood Capital, Pelion Ventures, and Salesforce Ventures. Protect AI says the funding "will accelerate the company's growth by expanding customer success and sales resources, advancing R&D, and strengthening channel programs."
Palo Alto, California-based AI governance software provider Credo AI has secured $21 million in funding from CrimsoNox Capital, Mozilla Ventures, and FPV Ventures, with participation from existing investors Sands Capital, Decibel VC, Booz Allen Hamilton, and AI Fund. The company says it "also made strategic additions to its leadership team across People, Go-to-Market (GTM), and Engineering, and plans to use the new capital to continue scaling amid rapidly growing global needs for responsible AI use and safety."
San Francisco-based Endari, a company that helps startups and SMBs build cybersecurity plans, has emerged from stealth with $4 million in seed funding. The company stated, "With this funding, Endari has created a proprietary and comprehensive cybersecurity maturity model that has been tested and validated with real customers."
New York-headquartered privacy compliance platform provider SafeGuard Privacy has secured $3.6 million in funding led by TechOperators, Dynamism Capital, Sidekick Partners, and two other existing investors.
Montreal-based cyber risk assessment startup Inscora has raised $2 million in funding led by Luge Capital, with participation from Desjardins Capital, Accelia Capital, Inovia Capital, and angel investors. The company says the funding "will be used to further develop Inscora's platform, expand the team, and launch the product in Canada and the U.S."
Tampa, Florida-based scam detection company Scamnetic has emerged from stealth with $1.35 million in pre-seed funding from Ruxton Ventures, Roo Capital, SaaS Ventures, and angel investors, SecurityWeek reports.
Executive moves.
CalypsoAI has named Donnchadh Casey as its new CEO. The company's founder and former CEO Neil Serebryany will serve as a member of CalypsoAI's board.
Dashlane has appointed Pamela Golden as Senior Vice President of People and Jon Cho as Senior Vice President of Product and Partnerships.
Robinhood has named David Schwed as CISO for the company's Brokerage division.