An Australia-based security startup, Redactive AI, has raised $7.5 million in seed funding to help major corporations use generative AI without compromising their proprietary information. The funding round, announced on Tuesday, was led by Felicis Ventures and Blackbird Ventures, with participation from Atlassian Ventures and automation company Zapier.
Founded by former Atlassian employees Andrew Pankevicius, Alexander Valente, and AI engineer Lucas Sargent, Redactive AI aims to provide tools that set guardrails for information access and retrieval by AI tools. This is crucial for companies struggling to integrate AI agents or chatbots into their workflows while protecting sensitive data.
Redactive’s tools are designed to assist engineers and data governance teams in setting permissions for information access, ensuring that AI agents can act on specific employees’ behalf without risking data security.
Already collaborating with two prominent Australian financial services organizations and several frontier technology companies, Redactive plans to use the new funding to expand its team. The company will hire around five new employees in engineering, customer success, and marketing, and also aims to increase its U.S. presence.
