AI security firm Cranium secures $39m in Series A funding

Enterprise AI security and trust software firm Cranium has raised $39m in Series A funding to continue innovation, research and development and business expansion.

Telstra Ventures led the round with participation from KPMG LLP and SYN Ventures.

Both participating investors previously provided seed funding when Cranium emerged from stealth six months ago and spun out of KPMG with additional investment from SYN Ventures.

Cranium's newest round will build company growth, strengthen customer momentum, and accelerate Cranium Enterprise software platform innovation through product development.

According to the company, the funding will also scale go-to-market strategies, including sales and marketing efforts, allow investment in R&D to further visibility into the security of AI systems, enhance security, regulation and compliance in AI and ML environments against adversarial threats, and reinforce its teams and customers with additional support.

Jonathan Dambrot, CEO and co-founder of Cranium said AI is being embedded into every business process and function at an unprecedented speed.

“Prioritising responsible AI now, at the beginning of the AI revolution, will allow enterprises to scale more effectively and not run into major roadblocks and compliance issues later,” he said.  

"We're honoured and deeply grateful for the support from our customers and investors whose dedication to Cranium only fuels our commitment to provide unparalleled visibility, trust, and a new level of security when it comes to the entire AI ecosystem of any organisation."

Marcus Bartram, general partner at Telstra Ventures said the rapid rate of innovation fuelled by the emergence of generative AI capabilities has generated fresh challenges for cybersecurity teams, raising new questions over compliance, trustworthiness, and security of their AI and ML environments.  

"Cranium stands at the forefront of AI security and trust software, empowering organisations to navigate the crowded cybersecurity industry with its groundbreaking product and pioneering innovations addressing enterprises' urgent needs grappling with AI regulation, compliance, and security frameworks,” he said.

“We're thrilled to invest in the team at Cranium and are confident in the tremendous impact they're poised to make."

Cranium's software is custom-built to address the gap between data science, compliance and cybersecurity teams by providing a single source of truth for AI security risks.