Protecto – a leading data privacy solution enabling safer AI – recently announced the closing of a $4 million seed funding round. Together Fund led the round with participation from Better Capital, FortyTwo VC, Arali Ventures and Speciale Invest.
This latest funding round brings the total raised to $5 million after Protecto raised initial angel investment capital from Google and Microsoft executives in 2021. And the company will use the latest infusion of venture capital funds to strengthen its technical edge by hiring top engineering talent and expanding its go-to-market strategic initiatives.
The amount of data being analyzed is multiplying every day with no barriers, enabling anyone (even those without technical backgrounds) to use AI for data analysis. The organizational volume and complexity of data, including previously unexplored sources like chat history, sales call transcripts, and community discussions will go through AI to expedite screening. But this vast and unstructured data inherently carries high risks, containing personal and sensitive information that increases unauthorized data access, leaks, and privacy violations.
The fear of security and privacy incidents could slow the AI adoption that engineers and architects rely on to help increase productivity and streamline workflows, highlighting the urgent need for innovative approaches to address these challenges.
The increased adoption of generative AI tools like ChatGPT is the driving factor for data privacy and security solutions. Current compliance and security tools do not work effectively anymore due to loss of data utility, inconsistency and structure amnesia, depriving AI models of valuable context. So this created an opportunity for Protecto to innovate in addressing AI security and trust issues.
Protecto’s easy-to-use APIs help companies and organizations protect data and ensure compliance throughout the AI lifecycle across training, RAG/tuning, and prompts. And they mask sensitive personal data while preserving the original data format and meaning, allowing AI models to understand the context and generate accurate results.
KEY QUOTES:
“Privacy and security concerns have long been stumbling blocks for businesses wanting to harness AI fully. At Protecto, our mission is to eliminate these barriers. With our innovative approach, companies no longer have to choose between harnessing the power of AI and ensuring data privacy.”
– Amar Kanagaraj, Protecto’s founder and CEO
“Protecto is enabling the future of data privacy and security. We have a strong thesis on AI and the role of privacy in the complex AI space. We share a similar vision with Protecto to safeguard data while unleashing the power of data to drive global progress.”
– Manav Garg, a co-founder of Together Fund
