Prevalent AI secures $22 million to address the data issues contributing to unsuccessful AI initiatives.

      Prevalent AI, a London-based firm that consolidates numerous disparate enterprise data sources into a single queryable graph, has secured $22 million from Integrity Growth Partners. This marks the first primary capital the company has raised in its nine years of operation, an unusual occurrence in the current market climate.

      Founded in 2017 by Paul Stokes, the CEO, and Arun Raj, the COO, along with a team with ties to British intelligence, the company includes notable figures such as Sir Iain Lobban, who served as GCHQ Director from 2008 to 2014. Also part of the group is Andrew France, a former Deputy Director for Cyber Defence Operations at GCHQ, who became CEO of Darktrace in January 2014, a year after the firm was established from Mike Lynch’s Invoke Capital.

      Prevalent claims it has been profitable since acquiring its first customer and has avoided taking on growth capital. The only previous adjustment to its capitalization occurred in July 2021, when Istari, a cybersecurity platform backed by Singapore’s Temasek, acquired a significant minority stake through a secondary deal.

      According to the company, annual recurring revenue has more than doubled in the last twelve months, although it did not disclose the actual amount. Neither the company’s valuation nor the size of the stake taken by IGP was shared.

      The platform continuously cleans and integrates these data sources into what Prevalent refers to as a sovereign knowledge graph, which is maintained within the customer’s own infrastructure rather than a shared cloud environment. The term “sovereignty” plays a critical role, as the UK market is currently prioritizing this concept. The rationale is that both individuals and AI agents need to understand what exists within an organization, how everything is interconnected, and where gaps lie before any action can be taken.

      Prevalent began its focus in the security sector because fragmentation can cause the most rapid damage, providing services to global banks, telecom operators, insurers, and critical national infrastructure providers. “Large enterprises do not lack tools or data; rather, they lack context,” stated Stokes. “Security teams must make decisions across a multitude of systems, controls, identities, and data sources that were never intended to function together.”

      The market statistics backing this proposition come from Gartner, which predicts worldwide end-user expenditure on information security will reach $240 billion by 2026, representing a 12.5% increase from the previous year. Additionally, the firm anticipates that over 40% of agentic AI projects will be scrapped by the end of 2027, citing rising costs, unclear business value, and insufficient risk controls as contributors.

      Prevalent argues that these issues are interconnected, a perspective shared by a wave of startups currently seeking to secure and ground AI agents instead of merely building them. As part of its results, the company highlights a global insurer that reduced the time needed for executive security reports by 95% and an international banking group that enhanced incident detection by over 80%. Both customers remain unnamed, and the figures have not been independently verified.

      The funds will be allocated towards establishing a comprehensive go-to-market organization that includes sales, marketing, customer success, and partnerships; expanding efforts in the US; and broadening the knowledge graph beyond security into additional risk and enterprise functions, such as financial crime analysis and compliance. Stuart Barnard has been appointed as chief financial officer, and Mike East has joined as senior vice president of global sales. This US expansion contrasts with recent trends, as US data-security companies like Rubrik are choosing to make London their European headquarters.

      For Integrity Growth Partners, a firm based in Santa Monica that recently closed an oversubscribed $220 million fund, this investment represents 10% of that fund. Ryan Anderson, the managing partner and co-founder, remarked that the team has developed “genuinely differentiated, AI-native technology” while maintaining “remarkable capital discipline,” which is a discreet private equity way of stating that they have yet to squander anyone's money.