TL;DR:
- Israeli startup Vendict secures $9.5 million in funding led by NFX, Disruptive AI, and Cardumen Capital.
- Vendict automates security compliance assessment by utilizing generative AI to fill out questionnaires with vendor-specific data.
- The AI model developed by Vendict combines high-level security expertise with cutting-edge innovation, revolutionizing the governance, risk, and compliance (GRC) landscape.
- The company’s proprietary pipeline integrates its own security-compliance-trained large language model (LLM) with other leading models, such as Microsoft Azure rephrasing LLM.
- Vendict’s approach significantly reduces the time required for security assessments and continuously improves efficiency through user interactions.
- The company’s services extend beyond questionnaire responses and include internal audits, regulation tracking, and a centralized knowledge base for compliance documentation.
- Vendict’s comprehensive vendor analysis enables organizations to conduct efficient end-to-end assessments based on industry, service criticality, and data sensitivity level.
- The platform empowers businesses to enhance their security compliance stance, facilitating their expansion into new markets.
Main AI News:
In today’s business landscape, enterprise software vendors face the arduous task of proving their compliance with security requirements through manual and time-consuming questionnaires. However, Israeli startup Vendict aims to transform this process. With a recent funding round of $9.5 million led by NFX, Disruptive AI, and Cardumen Capital, and supported by NewFund Capital, Tuesday Capital, Cyber Club London, and Andy Ellis, Vendict is set to automate security compliance assessment with the power of generative AI.
By leveraging its proprietary generative AI technology, Vendict enables vendors to streamline the questionnaire filling process by automatically generating compliant answers based on their own data. This groundbreaking approach not only saves hundreds of work hours each month but also accelerates the sales process for Vendict’s clients. With Vendict, security compliance assessment becomes a breeze.
The driving force behind Vendict’s success lies in the visionary leadership of its founders, Udi Cohen, CEO, and Michael Keslassy, CTO. Their mission was to create an AI model that excels in the language of security. This unique capability combines expert security assessment expertise with cutting-edge AI innovation, introducing a new standard in the governance, risk, and compliance (GRC) landscape.
To achieve this, Vendict harnesses a combination of its own large language model (LLM) and other leading models. Cohen explains, “We employ a proprietary pipeline that integrates our security-compliance-trained LLM, alongside other proprietary models, and Microsoft Azure rephrasing LLM.” By leveraging these advanced technologies, Vendict drastically reduces the duration of security assessments from weeks to mere hours, while continually enhancing efficiency through user interactions.
Recognizing the pivotal role of natural language processing and generative AI in transforming security questionnaires and automating compliance tasks, Vendict seeks to redefine the GRC landscape. The company’s innovative approach involves extracting data from an organization’s existing compliance information and employing its generative AI stack to deliver professional and accurate responses to each question in a given questionnaire.
Vendict’s services extend beyond questionnaire responses. The company also offers internal audits, regulation tracking, and a centralized knowledge base for all compliance documentation. With Vendict’s comprehensive vendor analysis, organizations can conduct swift end-to-end assessments based on industry, service criticality, and data sensitivity level. Moreover, Vendict guides businesses in fortifying their security compliance stance, empowering them to explore new markets confidently.
Leading security expert Raul Zayat Galante, head of security at Orca Security, attests to Vendict’s transformative impact, stating, “We’ve significantly reduced the time spent on RFIs and security questionnaire responses… We highly recommend Vendict to any organization seeking to enhance its RFI and security questionnaire response process.”
Looking ahead, Vendict envisions a future where security assessment reports are effortlessly generated for buyers based on the sellers’ documents and the vendor’s criticality. Through these ground-breaking innovations, Vendict is poised to spearhead a paradigm shift in security compliance, making it more accessible and less burdensome than ever before.
Conclusion:
Vendict’s innovative use of generative AI and its substantial funding demonstrates a significant leap forward in the security compliance market. By automating the time-consuming process of filling out questionnaires and providing comprehensive security assessments, Vendict enables organizations to save valuable time and resources. The combination of advanced technologies and the expertise of Vendict’s team positions the company as a key player in reshaping the GRC landscape. As businesses increasingly prioritize security compliance, Vendict’s streamlined approach will drive market demand and open doors to new opportunities.
