Seattle-based cybersecurity startup Protect AI has acquired Laiyer AI, a cybersecurity company headquartered in Berlin.
The companies announced the deal Wednesday but didn't disclose financial terms. With Laiyer, Protect AI gains technology that protects large language models, a growing specialty in tech.
"These new capabilities will empower our customers in automotive, energy, manufacturing, life sciences, financial services and government sectors," Protect AI co-founder and CEO Ian Swanson said in a news release.
Protect AI didn't immediately say how many employees it is gaining through the acquisition or how many it has now in total. Laiyer's LinkedIn page now redirects to Protect AI.
Laiyer's product is called LLM Guard. Large language models, such as ChatGPT, generate human language based off of prompts. LLM Guard is meant to secure these large language models and give organizations using them peace of mind. LLM Guard is free now, but Protect AI plans to launch a commercial version with expanded capabilities. Laiyer was founded last year, according to its LinkedIn page.
Protect AI launched out of stealth in December 2022 with a $13.5 million seed round. The company followed that up with a $35 million Series A round in July. The company aims to protect machine learning and artificial intelligence technology. Swanson previously told the Business Journal these technologies can have at-risk code or expose personally identifiable information, and traditional cybersecurity solutions aren't sufficient.
In addition to its Seattle headquarters, Protect AI has offices in Dallas and Raleigh, North Carolina. The company moved into a roughly 8,000-square-foot space at the 2+U tower downtown in November after previously working out of a WeWork space. The company had 35 employees at the time of the move.
Protect AI's investors include Evolution Equity Partners, Salesforce Ventures, Acrew Capital, Boldstart Ventures, Knollwood Capital, Avisio Ventures and Pelion Ventures.
