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Investment notes

Investment Notes: Future Secure AI

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Every large enterprise has bought AI. Very few have put it to work.

Three years into the generative AI wave, the typical enterprise has a chatbot licence, a handful of copilots and a board asking what it has all delivered.

Copilots make people a little faster at their jobs. They don’t do the job. And the jobs worth automating, like month-end close, tax calculations, reconciliations and customer service, live inside decades-old systems of record, behind strict data rules, in processes nobody has written down.

Enterprises know what they want… AI that completes a whole workflow end to end, runs inside their own environment, connects to their core systems and can be audited.

Importantly, it must be delivered by people they trust, who understand the business problem, not just the model.

The open question is who delivers it.

  • The big consultancies have the relationships but weren’t built to ship and run software.
  • Product platforms solve one well-defined use case and hand the rest of the work back to the customer.
  • Frontier labs are standing up deployment arms of their own, but their business is the model.

No single group is set up to solve the core enterprise problem end to end … yet.

In steps Future Secure AI

A highly credible and capable team who can define the problem, matched with the ability to build and run the solution, delivering enormous value for an enterprise.

Future Secure designs, builds and runs AI Co-Workers. Multi-agent systems that carry out a complex business process from start to finish, working alongside people and inside the customer’s existing systems.

Each Co-Worker has a name, a face and a place on the org chart. Behind the persona sits a team of agents handling the intake, the judgement calls, the system updates and the hand-offs that make up a real job, with deterministic logic where a language model is the wrong tool and a human in the loop where it matters.

The company calls its territory “Red Zone” AI – workflows that cross multiple systems and teams, where accuracy, security and oversight aren’t optional.

The delivery model is the other half of the product. Future Secure sells top-down, to senior execs, CEOs and boards, and opens with “what are your biggest problems?” rather than “what’s in your tech stack?”

A forward-deployed team of senior ex-consultants and engineers then scopes, builds and runs the Co-Workers alongside the customer’s own people.

A trusted team

Getting an enterprise to trust you with its valuable workflows requires a highly trusted and credible team, which Mehrdad and Michael bring to bear.

Mehrdad was a partner at McKinsey, where he co-led the firm’s worldwide Growth Practice and co-wrote The Alchemy of Growth, one of the most widely read books on how large companies grow.

He later ran growth and commercialisation at CSIRO, Australia’s national science agency, spinning out dozens of technology companies.

Michael spent more than a decade at Macquarie as an investment banker working closely with senior leadership, before he started tinkering with AI and saw the opportunity to fundamentally change key workflows.

Between them, they’ve spent their careers understanding the problem set of and in the boardrooms of exactly the kind of organisation Future Secure now sells to.

They’re not typical tech founders, and that’s the point. We don’t think this market gets won on technology alone. The models are good and getting better, and what’s hard to build today will be easy next year.

It gets won by whoever large enterprises trust to walk into a messy, regulated, decades-old process and take responsibility for the outcome. That takes relationships at the top of the organisation and a growing stack of proof points, and Mehrdad and Michael have built both.

What’s next for Future Secure AI

Our view on how enterprise AI gets adopted is simple. It’ll be a blend of product and services, and the companies that unlock real value will be the ones that can define the problem and own the delivery.

Future Secure was set up from day one to do both. We see a future where people and AI Co-Workers work side by side in every large enterprise, and we think Future Secure can define that category.

We’re proud to be backing Mehrdad, Michael and the Future Secure team, and welcome them to Square Peg!

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