Latest news with #IanSwanson
Geek Wire
09-05-2025
- Business
- Geek Wire
This Seattle founder just sold his third startup. Here's what he advises other entrepreneurs.
GeekWire's startup coverage documents the Pacific Northwest entrepreneurial scene. Sign up for our weekly startup newsletter , and check out the GeekWire funding tracker and venture capital directory . Protect AI employees at the RSA conference last week. (Protect AI Photo) AI adoption was rising. But security wasn't keeping up. This simple insight laid the groundwork for Protect AI, a Seattle-based cybersecurity startup that last week announced its acquisition to Palo Alto Networks. We caught up with Protect AI CEO and co-founder Ian Swanson to learn more about the company's journey and keys to success along the way. Swanson started and sold two enterprise software startups (Sometrics to American Express; DataScience to Oracle) before launching Protect AI in 2021 with his co-founders Badar Ahmed and Daryan Dehghanpisheh. Swanson left Oracle in 2019 and spent two years at Amazon Web Services, where he led worldwide go-to-market teams working on AI and machine learning services. 'We saw thousands and thousands of companies putting AI out there at scale — and we saw security risks,' Swanson said. 'I didn't see that anybody was really solving those risks or diving deep to understand what new innovations were needed as it related to the security of AI.' It took some trial and error in the early days of Protect AI to get the business humming. The company initially focused on a field called adversarial machine learning but didn't find much traction. Later it realized that many customers were deploying machine learning models at a massive scale — with gaping security blind spots that left their enterprise infrastructure exposed to bad actors. Then, ChatGPT went viral. 'The conversation at every boardroom flipped overnight,' Swanson said. Suddenly companies wanted to know how they could accelerate digital transformation with help from AI. That strategy required a new approach to cybersecurity — and led to tailwinds for a company like Protect AI. From left: Protect AI CTO Badar Ahmed; President Daryan Dehghanpisheh; and CEO Ian Swanson. (Protect AI Photo) The startup took a unique approach by building a full-stack, enterprise-ready AI security platform. It made four acquisitions to help support that vision, starting by swooping up threat research community Huntr in 2023, and later buying Rebuff, Laiyer AI, and SydeLabs. The acquisition strategy drew concern from some of the company's investors, Swanson said, given that Protect AI hadn't raised a huge amount of capital at the time. But that bet paid off as it helped accelerate the company's mission of being a one-stop-shop for companies looking to secure their machine learning models. Swanson said making small acquisitions is something most early startup startups aren't thinking about. 'If you're able to go find teams that aren't costing you tens of millions of dollars — that could be a way to move faster and with more completeness,' he said. He also said making sure the product was 'enterprise-ready' as quickly as possible was a key lesson from the Protect AI journey. 'It wasn't just about building a very specific product,' Swanson said. 'It was, how do you hire the best? How do you build the most complete vision out there as quickly as possible, so that you can not only plant the flag to say we own this market, but also show customers that you're really thinking big, and that you're enterprise-ready.' While other competitors offered solutions to specific problems, Protect AI could meet with a potential customer and solve multiple security-related needs. 'That was a lot easier thing than them trying to do a market map with this brand new market segment that, quite honestly, no one really knew yet,' Swanson said. The company's founders also had important expertise from their past roles leading some of the biggest AI businesses in the world. 'That was different than what a lot of cybersecurity companies had,' he said. 'They came from security, but they didn't really understand AI, especially at the depth of our team.' After founding and selling three startups, Swanson said success really comes down to the people involved. 'You can't build great products without amazing team behind it, nor can you sell to the world's biggest companies without a team that understands how to build those relationships,' he said. Swanson shared a few other tips for other entrepreneurs: Don't fixate on high valuations early on. He advised raising the capital you need, but being careful not to over-inflate valuation, as it can backfire later. 'Founders oftentimes worry too much about the valuation, especially early days,' he said. 'They want a vanity valuation, a high valuation that can actually hurt you more times than not.' He advised raising the capital you need, but being careful not to over-inflate valuation, as it can backfire later. 'Founders oftentimes worry too much about the valuation, especially early days,' he said. 'They want a vanity valuation, a high valuation that can actually hurt you more times than not.' Think beyond the MVP. Swanson said founders should work backwards from their future customers, pricing strategy, and go-to-market model — not just focus on shipping a minimum viable product. Swanson said founders should work backwards from their future customers, pricing strategy, and go-to-market model — not just focus on shipping a minimum viable product. Have a long-term vision. He underscored the importance of future thinking — anticipating market evolution, competitive dynamics, and customer needs — even in the early days. 'I think that's the role of a good CEO — you've got to look around corners, he said. 'You've got to have a far horizon.' The company raised $108.5 million from investors including Acrew Capital, Aviso Ventures, boldstart ventures, Evolution Equity Partners, Knollwood Capital, Pelion Ventures, 01 Advisors, Samsung, StepStone Group, and Salesforce Ventures. Most of Protect AI's capital came from outside the Seattle region. Swanson, who moved to Seattle in 2019, said this was just a byproduct of connections he built from his previous two startups. 'When we raised, we pretty much raised from people we knew,' he said. 'We never did a road show.' The acquisition deal with Palo Alto is expected to close later this year. Sources familiar with the deal say it was valued north of $500 million. Protect AI plans to continue growing out of its downtown Seattle office. The company employs around 120 people across Seattle, Berlin, and Bangalore, according to LinkedIn.
Yahoo
03-05-2025
- Business
- Yahoo
Palo Alto Networks Acquires Protect AI For $500M+, A Startup Backed By Salesforce, Samsung, And 01 Advisors In AI Security Push
Palo Alto Networks (NASDAQ:PANW), the global cybersecurity powerhouse with a market capitalization nearing $120 billion, is making a high-stakes move into the world of AI security with the acquisition of Protect AI, a Seattle-based startup that's risen fast in the red-hot artificial intelligence space. The deal, announced Monday, is expected to close later this year. The transaction is valued at over $500 million, GeekWire reported, citing sources familiar with the transaction. Don't Miss: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Protect AI, founded in 2022 by former engineering leaders from Amazon (NASDAQ:AMZN), Oracle (NYSE:ORCL), and Amazon Web Services, helps enterprise customers secure machine learning systems by monitoring every layer of the AI pipeline, from data to deployment. It's one of the few startups solely focused on the growing threat landscape surrounding AI-based attacks. Protect AI has attracted a notable roster of investors, including Salesforce Ventures, Samsung's Venture Investment Corp., and 01 Advisors, a VC firm co-founded by former Twitter executives. According to Bloomberg, the company raised a $60 million Series B round in 2024, bringing its total valuation at the time to approximately $400 million. Trending: Hasbro, MGM, and Skechers trust this AI marketing firm — . Palo Alto Networks said the acquisition would be integrated into its newly launched AI-native security platform. The platform aims to defend organizations from emerging threats like model manipulation, prompt injection, training data poisoning, and supply chain vulnerabilities, risks that traditional cybersecurity tools often overlook. Ian Swanson, CEO of Protect AI, wrote in a LinkedIn post that the company set out to 'help organizations secure the most important technology of our time: AI.' He credited the company's team, investors, and growing industry urgency for helping them build what he called 'category-leading solutions.' Protect AI was co-founded by Swanson, Badar Ahmed, and Daryan Dehghanpisheh, all of whom previously held senior positions at AI-focused startups acquired by tech giants. Swanson's previous ventures include Sometrics, which was acquired by American Express (NYSE:AXP) in 2011, writes startup has also made strategic acquisitions of its own, snapping up Laiyer AI, SydeLabs, Rebuff, and Huntr to expand its capabilities in red-teaming large language models and securing open-source AI supply chains. According to GeekWire, Protect AI currently employs around 120 people across offices in Seattle, Berlin, and Bangalore. The acquisition comes as cybersecurity experts warn of a widening AI threat surface. A 2024 report by HiddenLayer revealed that nearly three-fourths of enterprises experienced at least one AI-related breach last year. That statistic has turned AI security from a niche concern into a boardroom priority. Analysts expect massive growth in the space. In a 2024 report, Morgan Stanley projected the AI cybersecurity market will surge to $135 billion by 2030, reflecting a deepening need for solutions that can secure advanced machine learning environments. This acquisition signals Palo Alto Networks' growing interest in AI-specific security as the technology becomes more embedded across sectors like software, finance, healthcare, and government. Read Next: Shark Tank's Kevin O'Leary called Missing Ring his biggest mistake — Don't repeat history— Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Palo Alto Networks Acquires Protect AI For $500M+, A Startup Backed By Salesforce, Samsung, And 01 Advisors In AI Security Push originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Techday NZ
30-04-2025
- Business
- Techday NZ
Palo Alto Networks to acquire Protect AI to boost AI security
Palo Alto Networks has agreed to acquire Protect AI, a company focused on the security of artificial intelligence and machine learning applications, in a move to bolster its suite of AI security offerings. The acquisition agreement enables Palo Alto Networks to enhance the security of the entire AI lifecycle for its customers, from development through to runtime. The company stated that large enterprises and government organisations are increasingly developing complex ecosystems that use AI models, tools, APIs, and third-party components, which introduce new classes of risk not typically covered by traditional security tools. Threat actors have begun exploiting these new vulnerabilities, including methods such as model manipulation, data poisoning, and prompt injection attacks. These developments have underscored the need for solutions designed specifically to mitigate risks within AI systems. Palo Alto Networks has previously invested in capabilities for securing AI, and the integration of Protect AI aims to further expand these capabilities across both existing and emerging threat landscapes. Protect AI's solutions and team are expected to help accelerate Palo Alto Networks' plans for Prisma AIRSTM, a security platform for AI models also announced as part of the transaction. The Prisma AIRS platform is designed to offer enterprises and other organisations protection across the whole AI development process, including model scanning, risk assessments, runtime security for generative AI, posture management, and AI agent security. Anand Oswal, Senior Vice President and General Manager at Palo Alto Networks, said, "As AI-powered applications become core to businesses, they bring risks traditional security tools can't adequately handle. By extending our AI security capabilities to include Protect AI's innovative solutions for Securing for AI, businesses will be able to build AI applications with comprehensive security. With the addition of Protect AI's existing portfolio of solutions and team of experts, Palo Alto Networks will be well-positioned to offer a wide range of solutions for customers' current needs, and also be able to continue innovating on delivering new solutions that are needed for this dynamic threat landscape." Ian Swanson, Co-Founder and Chief Executive Officer of Protect AI, commented, "Joining forces with Palo Alto Networks will enable us to scale our mission of making the AI landscape more secure for users and organizations of all sizes. We are excited for the opportunity to unite with a company that shares our vision and brings the operational scale and cybersecurity prowess to amplify our impact globally." On completion of the transaction, Protect AI's Chief Executive Officer, its founding team and other employees will join Palo Alto Networks. The acquisition is expected to close by Palo Alto Networks' first quarter of fiscal 2026, subject to customary closing conditions and regulatory approvals. Palo Alto Networks indicated that the rapid adoption of AI across sectors, and the evolving threat vectors targeting these deployments, necessitates substantial investments in secure architecture and tailored risk mitigation. The acquisition of Protect AI is positioned as a move to enable organisations to pursue AI-driven projects with increased security and assurance.
Yahoo
29-04-2025
- Business
- Yahoo
Palo Alto Networks to buy Protect AI to extend AI security
Cybersecurity firm Palo Alto Networks has agreed to acquire enterprise AI security solutions provider Protect AI to bolster Palo Alto Networks' position in next-generation cybersecurity. Protect AI specializes in securing the use of AI and machine learning applications and models. Protect AI provides comprehensive suite of products for advanced AI scanning, LLM security, and GenAI red teaming that operate on single enterprise ready platform. By integrating with existing AI and security operations, Protect AI helps in protecting AI investments for organisations while enhancing operational efficiency, adopt MLSecOps and meet global data security and privacy standards. Founded by AI leaders from Oracle and Amazon, Protect AI is backed by investors, including boldstart ventures, Acrew Capital, Evolution Equity Partners, Knollwood Capital, Pelion Ventures, 01 Advisors, Samsung, StepStone Group, and Salesforce Ventures. Palo Alto Networks expects the integration of Protect AI's solutions and expertise is expected to significantly enhance its newly unveiled Prisma AIRS AI security platform. Prisma AIRS aims to provide customers with better protection throughout the entire AI development lifecycle, addressing the need for model scanning, risk assessment, GenAI runtime security, posture management, and AI agent security. This platform is designed to empower organisations to confidently integrate AI into their operational processes. Palo Alto Networks senior vice-president and general manager Anand Oswal said: 'By extending our AI security capabilities to include Protect AI's innovative solutions for Securing for AI, businesses will be able to build AI applications with comprehensive security. 'With the addition of Protect AI's existing portfolio of solutions and team of experts, Palo Alto Networks will be well-positioned to offer a wide range of solutions for customers' current needs, and also be able to continue innovating on delivering new solutions that are needed for this dynamic threat landscape.' Upon completion of the transaction, the CEO, founders, and employees of Protect AI are anticipated to join Palo Alto Networks. Subject to standard closing conditions, including regulatory approvals, the acquisition is planned to be closed by the first quarter of Palo Alto Networks' fiscal year 2026. Protect AI co-founder and CEO Ian Swanson said: 'Joining forces with Palo Alto Networks will enable us to scale our mission of making the AI landscape more secure for users and organisations of all sizes. 'We are excited for the opportunity to unite with a company that shares our vision and brings the operational scale and cybersecurity prowess to amplify our impact globally.' In 2024, Palo Alto Networks and Deloitte expanded their strategic alliance into the EMEA and JAPAC regions. This allows Palo Alto Networks AI-powered cybersecurity solutions and joint offerings available to Deloitte clients globally. "Palo Alto Networks to buy Protect AI to extend AI security" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
28-04-2025
- Business
- Yahoo
Palo Alto Networks Makes Bold AI Security Move with Protect AI Acquisition
Palo Alto Networks (NASDAQ:PANW) has taken a major step to fortify its leadership in AI cybersecurity by announcing a definitive agreement to acquire Protect AI. Management emphasized that the explosion of AI applications across enterprises and governments has created an entirely new and vulnerable attack surface. With Protect AI's advanced solutions and expert team, Palo Alto Networks plans to deliver comprehensive security that covers the entire AI development lifecyclefrom model scanning to runtime protection. The acquisition is expected to significantly expand Palo Alto Networks' ability to manage emerging AI-specific threats like model manipulation, data poisoning, and prompt injection attacks. Warning! GuruFocus has detected 4 Warning Sign with PANW. The acquisition will also accelerate the launch of Prisma AIRS, which management describes as the most complete AI security platform available today. Prisma AIRS is designed to provide customers with end-to-end protection as they embed AI into critical operations, offering capabilities including GenAI runtime security, risk assessments, posture management, and AI agent security. By integrating Protect AI's technology, Palo Alto Networks aims to address an urgent and growing gap where traditional cybersecurity tools are no longer sufficient. The company believes that organizations now need purpose-built solutions to deploy AI safely and at scale. Leadership from both companies signaled strong optimism about the future. Anand Oswal, SVP at Palo Alto Networks, highlighted that Protect AI's portfolio will immediately bolster Palo Alto Networks' ability to meet current customer demands while fueling future innovation in AI security. Protect AI's CEO Ian Swanson echoed the enthusiasm, noting the partnership would allow their mission to scale globally with Palo Alto Networks' operational strength. Subject to regulatory approvals, the deal is expected to close by the first fiscal quarter of 2026, positioning the company at the center of one of the most important technology transformations of this decade. This article first appeared on GuruFocus.
