Mindgard, a company focusing on artificial intelligence security, recently announced the completion of US$8 million in financing and will further expand its influence in the US market. The round was led by .406Ventures, with participation from Atlantic Bridge, Willowtree Investments, and existing investors IQ Capital and Lakestar. Mindgard also appointed new product leaders and vice president of marketing to strengthen its product development and marketing capabilities. The funds will be used primarily to accelerate its research and development process and further improve its groundbreaking Dynamic Application Security Testing (DAST-AI) solution.
Mindgard announced the completion of US$8 million in financing to accelerate its research and development and promote its expansion in the US market. The financing was led by .406Ventures, with participation from Atlantic Bridge, Willowtree Investments and existing investors IQ Capital and Lakestar. At the same time, Mindgard also appointed two industry leaders as product leaders and vice presidents of marketing respectively to strengthen the company's product development and marketing.
With the rapid popularization of AI technology, new security risks are emerging one after another, and traditional security tools are difficult to cope with this complex security environment. Gartner's research shows that 29% of enterprises report encountering security breaches when deploying AI systems, and only 10% of internal auditors have sufficient visibility into AI risks. New risks, such as large language model (LLM) hint injection and jailbreaking attacks, exploit the probabilistic and opaque nature of AI systems, and these problems often become apparent at runtime. Therefore, ensuring the security of AI models and their tool chains requires a completely new approach.
Mindgard is committed to revolutionizing AI security testing and automated red team detection, launching its industry-first Dynamic Application Security Testing (DAST-AI) solution. This advanced technology identifies and fixes AI-specific vulnerabilities that can only be detected at runtime. For organizations adopting AI technology, continuous security testing is key to gaining visibility into risks throughout the AI lifecycle. Mindgard's solutions integrate seamlessly into existing automated processes, allowing security teams, developers, AI red team members, and penetration testers to secure AI systems without disrupting workflows.
Greg Dracon, partner at .406Ventures, said: “The rapid adoption of AI has brought new security risks that traditional tools cannot address. Mindgard’s innovative approach effectively solves the unique challenges of AI security, providing security teams and developers with the ability to safeguard AI. The tools you need for system security. We believe Mindgard can lead this emerging market and look forward to working with them.”
Dr. Peter Garraghan, CEO of Mindgard and professor at Lancaster University, noted: “All software has security risks, and AI is no exception. However, the way these risks manifest themselves in AI is fundamentally different from other software. With ten years of experience in AI security research, we established Mindgard to address this challenge and create a safer and more reliable environment for the future of AI."
Highlight:
Mindgard successfully raised US$8 million to promote the research and development and market expansion of its AI security testing technology.
Its Dynamic Application Security Testing (DAST-AI) solution specifically targets AI-specific security vulnerabilities to ensure continuous security monitoring.
With the newly appointed executives, Mindgard hopes to strengthen its leadership position in the North American market.
All in all, Mindgard’s financing and new appointments herald its continued efforts in the field of AI security. Its innovative DAST-AI solution provides a new way to deal with increasingly complex AI security challenges and deserves the industry’s attention.