TL;DR:
- Lasso Security, an Israeli startup, has emerged from stealth mode with $6 million in seed funding.
- The company specializes in cybersecurity solutions for enterprises using generative AI.
- Lasso Security can identify and monitor the use of generative AI and large language model (LLM) tools within organizations.
- The platform tracks employee data interactions and prevents the exchange of sensitive information.
- A survey reveals that 43% of professionals use generative AI or LLMs, but few protect against associated cybersecurity risks.
- Entrée Capital and Samsung Next participated in the funding round.
Main AI News:
Lasso Security, an Israeli startup specializing in cybersecurity solutions for enterprises employing generative AI, has made its debut from stealth mode, securing an impressive $6 million in seed funding. The company’s core focus lies in identifying and mitigating the risks associated with generative AI and large language model (LLM) tools, a critical concern for organizations exposed to potential data breaches.
Lasso Security’s innovative platform boasts the capability to pinpoint which generative AI and LLM tools are being utilized within a company. Moreover, it can diligently monitor each employee’s activity involving these tools, meticulously tracking the data they transmit and receive. In the event of suspicious activity, the platform can promptly intervene, preventing the exchange of sensitive data and thwarting potential threats to the organization.
Recent surveys have revealed that a staggering 43 percent of professionals are harnessing generative AI and LLMs to enhance their productivity in the workplace. However, alarmingly, few are taking adequate measures to safeguard their companies from the cybersecurity vulnerabilities inherent to these technologies.
Venture firm Entrée Capital spearheaded the funding round, with a notable participation from Samsung Next, the investment arm of the global electronics giant. Elad Schulman, CEO of Lasso Security, emphasized the remarkable capabilities of LLMs, acknowledging their potential to revolutionize information processing. Nevertheless, Schulman was quick to point out the vulnerabilities they introduce, particularly in enterprise settings.
Schulman warned, “As early as next year, organizations lacking a dedicated Gen AI risk management solution will experience negative outcomes.” He underscored Lasso Security’s mission, stating, “Our goal is to empower businesses with robust defenses to protect their systems, even those leveraging generative AI technologies utilizing LLMs. Every data point, command, and prompt generated by LLMs will fall under the vigilant oversight of our sophisticated security platform, enabling teams to fully embrace generative AI without compromising the safety and security of their data.”
Conclusion:
The emergence of Lasso Security with substantial seed funding underscores the growing importance of cybersecurity in the realm of generative AI. With a significant percentage of professionals leveraging these technologies without adequate safeguards, Lasso Security’s solutions address a critical market need. As organizations increasingly adopt generative AI, the demand for dedicated Gen AI risk management solutions is set to rise, positioning Lasso Security favorably in a market primed for growth and heightened security awareness.
