TrojAI, a leading provider of enterprise AI security solutions, announced a $5.75 million funding round of additional seed capital and the appointment of Lee Weiner as the company’s CEO. This funding round was led by Flying Fish, with participation from current investors Build Ventures and Techstars and new investors Alteryx Ventures and Flybridge Capital Partners.
The additional funding will help TrojAI build on its success, grow, and continue enabling enterprises to secure AI models and applications. It will also support product development, sales, and marketing efforts. TrojAI will expand its operations to the U.S. with a new office in Boston, Massachusetts to meet growing global demand.
Lee Weiner joins the company as CEO to drive continued growth and enterprise adoption of TrojAI. And he brings over 25 years of B2B software experience, with an extensive background in the cybersecurity sector. Weiner has experience leading companies in the early and growth stages to IPO and beyond. Before joining TrojAI, Weiner was a senior executive at Rapid7 for 11 years, leading products, engineering, and innovation as the company scaled from $40 million to over $750 million in revenue. Earlier, he had senior roles with LogMeIn, Symantec, and Netegrity.
AI is transforming the enterprise by enabling limitless new use cases that increase productivity and customer value. However, it also presents increased risks and threats that must be managed and mitigated. TrojAI is a comprehensive AI security platform for businesses that assesses model risks prior to deployment and protects AI applications once in production. The new funding round will support the expansion of the business and its AI/Machine Learning (ML) solutions.
TrojAI also added new board member Chip Hazard (General Partner and Co-Founder of Flybridge Capital Partners).
KEY QUOTES:
“As enterprises rush to adopt secure AI solutions, few companies are as fully equipped to meet the demand as TrojAI in this virtually limitless market. Flying Fish has great confidence in their newly expanded team, continued progress, and future outlook.”
– Frank Chang, Co-Founder and Managing Partner, Flying Fish
“Stephen Goddard and I founded TrojAI to address a critical need for security around AI deployments. As we enter a new growth phase, it’s the right time to add a seasoned leader to our executive team that has experience with rapidly scaling businesses. Lee’s background and expertise will be instrumental as we continue our mission of securely enabling AI for the enterprise. We could not have found a better fit than Lee.”
– James Stewart, CTO and Co-Founder of TrojAI
“I am thrilled to join the TrojAI team at this exciting time. AI and cybersecurity are top priorities for enterprises. As the threat landscape is constantly escalating and evolving, integrating AI in a secure way is critical. This investment allows TrojAI to build on its strong foundation to help customers accelerate digital transformation.”
- Lee Weiner
“AI is both a force multiplier and a challenge for businesses today, and TrojAI is helping to solve the critical issue of security. We are impressed with the depth of the team’s expertise and the company’s production deployments, which include implementation at one of the largest financial services companies in the world. We are excited to work with TrojAI as they expand into the US and grow the business.”
– Chip Hazard, General Partner and Co-Founder of Flybridge Capital Partners
“Data and analytics are driving the vanguard of AI adoption. However, to see broad acceptance, every IT leader needs easy to deploy, high performance systems to secure AI. TrojAI’s approach, particularly TrojAI’s firewall product, is a perfect fit for that need, with the adaptable filtration and performance for AI at scale.”
– Resham Mehta, VP Corporate Development and Head of Alteryx Ventures, Alteryx
