TrojAI raises $5.75M in seed funding to support its AI ambitions
by CM Staff
The additional capital will help TrojAI build on its success, grow, and continue to enable enterprises to secure AI models and applications.
SAINT JOHN and BOSTON — TrojAI, a provider of enterprise artificial intelligence (AI) security solutions, announced a USD $5.75 million funding round of additional seed capital and the appointment of Lee Weiner as the company’s CEO.
The funding round was led by existing investor Flying Fish with participation from current investors including Build Ventures and Techstars, as well as new investors Alteryx Ventures and Flybridge Capital Partners. The additional capital will help TrojAI build on its success, grow, and continue to enable enterprises to secure AI models and applications. It will support product development, sales, and marketing efforts. To meet growing global demand, TrojAI will also expand its operations to the U.S. with a new office in Boston, Massachusetts.
“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,” said Frank Chang, Co-Founder and Managing Partner, Flying Fish.
Weiner joins the company as CEO to try and drive continued growth and enterprise adoption of TrojAI. He brings B2B software experience, with a background in the cybersecurity sector. Weiner has experience leading early and growth stage companies to initial public offering (IPO) and beyond. Prior to 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 held senior roles with LogMeIn, Symantec, and Netegrity.
“Stephen Goddard and I founded TrojAI to address a critical need for security around AI deployments,” said James Stewart, CTO and Co-Founder of TrojAI. “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.”
TrojAI is a comprehensive AI security platform for businesses that assesses risks of models prior to deployment and protects AI applications once they are in production. The new funding will support the expansion of the business and its AI/Machine Learning (ML) solutions.
“I am thrilled to join the TrojAI team at this exciting time. AI and cybersecurity are top priorities for enterprises,” said Weiner. “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.”
