20 December 2024

Mindgard secures $8m from.406 Ventures and others to fund US expansion and product development

The financing round was led by.406 Ventures to support team growth and international expansion.

$8.0M

≈ £6.4M at $1 = £0.7956 on 20 Dec 2024

Mindgard provides automated security testing and red teaming software designed to protect enterprise artificial intelligence systems from runtime vulnerabilities.

Mindgard has raised $8m in a funding round led by.406 Ventures, with participation from Atlantic Bridge, Willowtree Investments, IQ Capital, and Lakestar. The capital will be used to expand the team, drive product development and research, and support expansion into the United States.

The company provides automated security testing and red teaming software to address runtime vulnerabilities unique to artificial intelligence deployments. Alongside the financing, Mindgard appointed Dave Ganly and Fergal Glynn as executives to spearhead product development and lead the North American market entry from Boston.

From the founder

"The challenge is that the way these risks manifest within AI is fundamentally different from other software. Drawing on our 10 years of experience in AI security research, Mindgard was created to tackle this challenge. We’re proud to lead the charge toward creating a safer, more secure future for AI."

Peter Garraghan

CEO at Mindgard

Investor perspective

"Mindgard’s innovative approach, born out of the distinct challenges of securing AI, equips security teams and developers with the tools they need to deliver secure AI systems. Mindgard is well-positioned to lead this emerging market and we are thrilled to partner with them on this journey."

Greg Dracon

Partner, .406 Ventures