HiddenLayer Raises $50M in Series A to Bolster AI Security
In Brief
AI security provider HiddenLayer has raised $50 million in Series A.
The round was led by M12, Microsoft’s Venture Fund, and Moore Strategic Ventures.
HiddenLayer’s MLSec Platform comprises a range of products that safeguard ML models from adversarial attacks.
AI security provider HiddenLayer today announced that it has raised $50 million in a Series A round led by M12, Microsoft’s Venture Fund, and Moore Strategic Ventures.
Participants in the round included Booz Allen Ventures, IBM Ventures, Capital One Ventures, and Ten Eleven Ventures.
A research commissioned by the company revealed that 96% of organizations consider machine learning (ML) crucial or indispensable for their business operations. However, most survey participants currently depend on manual methods to tackle threats to ML models.
In light of this, 80% of respondents expressed a desire to allocate investments toward a solution that can oversee the integrity and security of ML models in the next 12 months.
“We know almost every enterprise in the world is already using AI in multiple forms today, but we also know that no other technology has achieved such widespread adoption without security protections in place,” Chris Sestito, CEO and Co-Founder at HiddenLayer, said in a statement.
The company claims to defend AI models for Fortune 100 companies in diverse sectors such as finance, government and defense, and cybersecurity. With the latest funding, the company aims to expand its team by hiring an additional 40 employees by year-end.
HiddenLayer says that its MLSec Platform offers a suite of products designed to automate security measures for ML models. The products include a Detect & Respond solution, a model scanner, and a security audit reporting solution.
The company asserts that these products can ensure protection against adversarial attacks, vulnerabilities, and malicious code injections in ML models.
The flagship product from HiddenLayer, known as Machine Learning Detection and Response (MLDR), utilizes a software-based, noninvasive approach to oversee the inputs and outputs of AI algorithms. MLDR provides real-time protection for AI assets and offers a range of adaptable response options, including alert systems, isolation measures, profiling capabilities, and deception tactics.
Founded in March 2022 by Sestito, Chief Scientist Tanner Burns, and CIO Jim Ballard, HiddenLayer was born out of a real-world adversarial AI attack the three co-founders experienced.
During their tenure at Cylance, an AI company using deep learning to combat malware, Sestito, Burns, and Ballard faced a situation where attackers exploited the Windows executable ML model through an inference attack.
The incident exposed vulnerabilities and enabled the creation of undetectable binary files that infected Cylance’s entire customer base.
“Inspired by their own experience with an adversarial AI attack, HiddenLayer’s founders built an essential platform for any enterprise working with AI and ML,” said Todd Graham, Managing Partner at M12, Microsoft’s Venture Fund. “Their first-hand knowledge of these attacks, combined with their vision and novel approach, position the company as the go-to solution to protect these models.”
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About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.
