Foundation Raises $6.4M for AI Agent Security Platform

Foundation, a Boston-based company, has raised $6.4 million in a funding round. This brings their total funding to $16.5 million. The company aims to expand beyond controlling bitcoin private keys into identity, multifactor authentication, and AI agent authorization. They are developing Passport Prime, which they call "Human Authority Hardware." This device is designed to keep people in control of high-stakes digital decisions as AI agents become more autonomous. The rise of AI agents highlights a mismatch with traditional banking. AI agents lack legal identity, but they can process many transactions in systems designed for people. PayPal's survey shows that AI agents are already making transactions for customers. Nearly 95% of merchants report seeing traffic from AI agents. Financial institutions face an authentication crisis as AI agents execute tasks like initiating transactions. A report finds that 65% of financial institutions believe addressing generative AI threats will require large investments. Fraud teams are encountering AI-generated IDs and manipulated capture sessions. Passport Prime is a handheld device for explicit human approval and programmable security. It combines multiple security functions, including bitcoin self-custody and FIDO security keys. The device is powered by KeyOS, an open-source operating system. This development matters because it addresses the growing challenge of securing transactions and identities in an age of autonomous AI.