H Company, a secretive French AI startup, has made a strategic move by acquiring Mithril Security, a Paris-based firm specializing in open-source tools for AI agent development. The deal, which closed in the second half of 2024, marks a significant shift for H Company, which had remained largely out of the public eye following its $220 million seed round in May 2024.
Since its inception, H Company has been focused on developing AI agents—systems that automate complex tasks without human involvement. Despite raising substantial capital and building early excitement within the AI community, H has kept a low profile, losing three of its five cofounders and providing minimal updates via social media. The company’s quiet nature has raised questions, but this latest acquisition signals a new chapter in its development.
Two sources with direct knowledge of the matter confirmed that H Company has acquired Mithril Security, which had been working on privacy-enhancing open-source tools for AI. These tools were aimed at helping AI providers, such as OpenAI, create models that could be trusted to handle sensitive data securely. The acquisition, which closed in late 2024, sees Mithril Security’s founder Daniel Huynh and part of his team join H, although Huynh has since departed from the company.
The Shift in Mithril Security’s Focus
Mithril Security was founded in 2021 with a vision to create privacy-centric solutions for AI systems. The company’s early efforts were focused on offering tools that would allow AI models to safely handle user data without compromising privacy. However, in early 2024, Mithril Security announced a change in direction. Huynh shared in a blog post that the company’s resources would be refocused on developing LaVague, an automation framework that leverages Large Language Models (LLMs) to build AI agents.
LaVague’s primary goal is to offer open-source tools that assist developers in creating AI agents for web automation. The framework specifically targets web environments, enabling developers to create web agents—AI systems capable of navigating and interacting with web environments autonomously.
Web automation is a key area for AI agents. Developers often rely on automated tools to test web browsers, pages, and mobile applications by simulating human interactions, such as clicking buttons and filling out forms. LaVague offers developers the ability to automate these processes through natural language instructions, simplifying the creation of web agents.
The toolset provided by LaVague allows developers to “automate automation,” making it easier for them to create agents for web automation tasks. This is a significant step forward for the AI industry, as it provides a more intuitive way to design agents for tasks that were traditionally reliant on manual scripting.
H Company’s New Product Focus
In late 2024, H Company launched its first product, Runner H, which focuses on web automation as its initial environment. Runner H is a general-purpose web agent designed to carry out various tasks, including automating web automation pipelines for developers using natural language commands.
Following the acquisition of Mithril Security, H Company has increased its focus on web testing automation. The company is preparing to release a new agent, Tester H, which is specifically dedicated to web automation. According to sources familiar with the company’s operations, Tester H is already operational and currently in private beta with select customers.
Competing in the AI Agent Market
The market for AI agents is growing increasingly competitive, with several companies working to develop the most efficient and capable systems. Runner H initially outperformed many competitors, scoring 67% on the WebVoyager benchmark for browser agents—surpassing notable competitors such as Anthropic’s Claude, which scored 52%. However, as the market has evolved, Runner H’s position has weakened. For instance, OpenAI’s Operator scored 87% on WebVoyager, Google’s Project Mariner scored 83.5%, and Proxy, a UK-based startup, scored 82%.
Despite this, H Company has reportedly developed a new version of Runner H, which has achieved an impressive 91% score on WebVoyager—a significant improvement that positions the company as a serious contender in the AI agent market.
As H Company continues to expand its portfolio with acquisitions like Mithril Security and develops more advanced AI agents, it is positioning itself as a key player in the growing field of AI-driven automation. The company’s focus on web automation and testing tools, combined with its new developments in natural language-powered agents, signals its ambition to offer powerful, scalable solutions for developers worldwide.
For now, the exact future of H Company remains unclear. The company’s decision to keep a low profile and its rapid evolution from an AI agent creator to a major player in web automation reflects the ever-changing dynamics of the AI landscape.
