$15M Series A led by Ensemble VC U.S. Air Force & DHS on the customer list SBOM + AIBOM = supply chain x-ray Founded by ex-Palantir, ex-Pentagon operators Deploys in ~90 seconds $21M raised across two rounds $15M Series A led by Ensemble VC U.S. Air Force & DHS on the customer list SBOM + AIBOM = supply chain x-ray Founded by ex-Palantir, ex-Pentagon operators Deploys in ~90 seconds $21M raised across two rounds
Software & AI Supply Chain Security

Manifest.

The company that asks the question most software teams can't answer: what, exactly, is inside the code and AI you ship?

SBOM AIBOM New York, USA Founded 2022
Manifest company logo
FIG. 1 - The Manifest mark. A small logo for a company whose whole job is reading the fine print nobody else does.
The Dispatch

Right now, a security team somewhere is opening a piece of software and finding out it has no ingredient list

It is 2026, and the average application is less written than assembled. Hundreds of open-source libraries, a few vendor components, maybe an AI model dropped in last quarter that nobody fully vetted. When something breaks - or worse, when something is breached - the first question is the hardest: what is actually in here? Manifest exists to make that question boring. Its platform builds and maintains a live bill of materials for every piece of software and AI an organization builds or buys, so the answer is already on the screen before anyone has to panic.

Manifest is a software and AI supply chain security company. It generates, imports, enriches and monitors SBOMs (Software Bills of Materials) and AIBOMs (AI Bills of Materials), then turns that inventory into something useful: vulnerability alerts, vendor risk scores, license tracking and compliance evidence. The pitch is almost suspiciously simple. Know what's inside.

It's no longer acceptable to deploy software or AI without knowing what's inside.

- Marc Frankel, Co-founder & CEO
The Problem

The scariest line of code is the one you didn't write

Modern software supply chains are a polite fiction. Everyone agrees they're risky, and almost no one can draw a map of theirs. The industry learned this the expensive way - SolarWinds, Log4j, a parade of incidents where the dangerous component was buried three dependencies deep and nobody knew it was there until it was. Regulators noticed too, and SBOMs went from nice-to-have to, increasingly, the law.

The trouble is that a bill of materials, left alone, is just a spreadsheet that ages badly. It tells you what was inside on the day it was generated and nothing about the morning a new CVE drops. Then AI arrived and made the gap worse: models pulled from public hubs, with training data and provenance that few teams can account for. A black box inside a black box.

Deploying software without visibility is like buying a house without an inspection or maintenance records.

- Marc Frankel, on why transparency isn't optional

Translation: you can absolutely buy that house. You just shouldn't be surprised by what's living in the walls.

The Founders' Bet

People who chased breaches for a living decided to get ahead of them

Manifest's founders did not arrive at supply chain risk from a whiteboard. Marc Frankel and Daniel Bardenstein came out of Palantir and national security work, where tracing a breach back to a single rogue software component meant lost time, lost money, and a lot of late nights. They had lived the problem from the response end. The bet they made was that the same pain could be turned into a discipline: if you maintain transparency continuously - before the incident - the panic-driven forensics mostly disappears.

CO-FOUNDER / CEO

Marc Frankel

Sets the company's direction and its blunt thesis that shipping blind is no longer acceptable.

CO-FOUNDER / CTO

Daniel Bardenstein

Brings the Pentagon-and-Palantir engineering lens to building transparency at scale.

CO-FOUNDER

Cameron Greenburg

Part of the founding team that turned lived breach pain into a product.

FIG. 2 - Three people who decided the bill of materials deserved better than a forgotten tab in a spreadsheet.

The Product

One platform, seven ways of asking "what's in this?"

Manifest isn't a one-time scan. It's a system of record for everything inside your software and AI, refreshed as the world changes. Generate or import an SBOM, enrich it, watch it, and let the platform tell you the moment a component becomes a liability. Then do the same for the AI models nobody can quite account for.

SBOM Management

Generate, import, enrich and share Software Bills of Materials across the full lifecycle.

AI Risk (AIBOM)

Inventory GenAI models, track provenance and enforce governance with an AI Bill of Materials.

Product Security

Find and fix supply chain vulnerabilities, including the post-launch ones everyone forgets.

Vendor Risk

Real-time risk insight on third-party and supplier software before you trust it.

Vulnerability Mgmt

Continuous CVE monitoring, prioritization and automated response workflows.

Open Source Tracking

Watch OSS components, licenses and risk across every library you depend on.

Compliance

Automate and maintain SBOM and supply chain compliance with government and industry rules.

FIG. 3 - Seven modules, one stubborn idea: an inventory you forget about isn't an inventory, it's a liability.

The Short History

From seed check to Series A

2022
Manifest Cyber, Inc. founded by ex-Palantir, ex-Pentagon operators who'd traced one too many breaches.
MAY 2023
Raises a $6M seed led by First Round Capital and reveals new government contracts.
MAR 2024
Recognized for a reported ~$1.8M government contract award, with a local nod from Rep. Jim Himes.
APR 2025
Closes a $15M Series A led by Ensemble VC, bringing total funding to roughly $21M, with European expansion on the map.
2026
SBOM and AIBOM transparency serving mission-critical orgs across defense, government, automotive, healthcare and finance.
The Proof

The customers are exactly the ones who can't afford a surprise

You can tell a lot about a security company by who trusts it with the scary stuff. Manifest's roster leans toward organizations where an unknown component isn't an inconvenience but a headline: the U.S. Air Force, the Department of Homeland Security, and Fortune 500 enterprises in automotive, defense, medical devices and financial services. These are buyers with auditors, regulators and adversaries all watching at once.

$21M
Total raised
~38
Team size
90s
To start assessing risk
7
Platform modules

FIG. 4 - A small team, a large blast radius. Mission-critical work tends to run lean.

Funding, round by round
USD raised // source: company & press reports
Seed '23
$6M
Series A '25
$15M
Total
$21M
Some sources cite ~$23M total. Series A led by Ensemble VC; backers include First Round Capital, Homebrew, XYZ, Leap435, Overmatch and AE Industrial Partners.

The same idea that runs manufacturing - know your parts - finally arrives for software and AI.

- The Manifest thesis, paraphrased
The Mission

Make transparency the default, not the heroic exception

Manifest's stated mission is to uncover risk in the software and AI you build and buy. Underneath that is a quieter ambition: to make supply chain transparency so routine that nobody calls it a feature anymore. The grocery aisle has had ingredient labels for a century. Cars have had recall systems for decades. Software, somehow, has run on trust and crossed fingers. Manifest is betting that era is ending - partly because customers demand it, partly because regulators are writing it down.

There's a neat irony in the work. The most advanced AI systems on earth are being deployed by organizations that can't always tell you what's inside them. Manifest's job is to be the unglamorous adult in the room, handing over the manifest before anyone signs for the cargo.

Why It Matters Tomorrow

The AI wave makes the unanswered question louder

Every new AI model dropped into production is another component with murky origins. Every regulation tightening around software bills of materials moves transparency from optional to mandatory. The market Manifest is building for isn't shrinking - it's compounding, one dependency and one model at a time. The company's bet is that the organizations who can answer "what's inside?" instantly will simply outlast the ones still searching for the spreadsheet.

So go back to that security team, the one opening a piece of software with no ingredient list. With Manifest, the scene changes. The bill of materials is already there. The vulnerable component is already flagged. The vendor's risk is already scored, and the compliance evidence is already filed. The panic never starts, because the answer was waiting. That's the whole point - and it's a duller, far better way to run a software supply chain.

Know what's inside. Then nothing inside can surprise you.

- Manifest, in four words and a follow-through