Mindgard raises $30M to handle security for AI models and applications
Mindgard Ltd., a leader in artificial intelligence cybersecurity, announced today that it raised $30 million in early funding to scale up its product in response to significant demand across the industry, given an increase in high-impact vulnerabilities.
Album VC led the Series A funding round. Karma Ventures and existing investors also participated, joined by .406 Ventures, Atlantic Bridge, IQ Capital and Lakestar.
The company combines AI security research with offensive security expertise against AI systems. Founded in 2022, Mindgard is a spinout from Lancaster University to commercialize more than a decade of AI-security research technology designed to mitigate attacks on AI models, applications and agents. While it originated at the university, it now operates as an independent company, headquartered in Boston and London.
The company noted that it has publicly disclosed over 150 high-impact vulnerabilities in popular AI applications to date.
“AI is creating an entirely new attack surface and organizations need a fundamentally different approach to securing it,” said Chief Executive James Brear. “We don’t just automate attacks. We operationalize expertise, turning the knowledge of leading AI security researchers and offensive security practitioners into the capabilities every enterprise needs to secure their AI.”
Many widely used AI products contain vulnerabilities. These can include zero-day code executions within AnySphere Inc.’s Cursor independent code editor, a trusted workplace flaw in Google LLC’s Antigravity or image-generation guardrail failures in OpenAI ChatGPT. The company uses its knowledge to augment its service to understand these exploits and vulnerabilities, strengthen its AI Security Platform and provide security teams access to continuously evolving, state-of-the-art offensive and defensive capabilities for AI systems.
The company said the Series A has accelerated the company’s deployment within a number of Fortune 2000 and AI innovators across financial services, pharmaceuticals, gaming, digital services, semiconductors and healthcare.
This comes at a time when AI is being adopted across more industries in production, making it a larger security surface risk than ever.
“Organizations are moving AI into critical operations without security infrastructure designed for how these systems operate in practice,” said Ty Boswell, partner at Album VC.
The company said it intends to use the funding to bolster its current engineering team and bolster its product, sales, and marketing to handle the influx of customer demand.
Image: SiliconANGLE/Ideogram
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