TL;DR:
- Israeli startup Vendict emerges from stealth mode with $9.5 million in funding led by Disruptive AI, NFX, and Cardumen Capital.
- Vendict utilizes linguistic generative AI to revolutionize security compliance for technology vendors.
- Their AI-powered solution saves significant time and streamlines the sales process, providing a competitive advantage.
- Vendict’s AI model masters security language, reducing risks, accelerating sales cycles, and enhancing compliance posture.
- The company’s technology replaces the manual filling of security questionnaires, transforming weeks-long processes into hours.
- Vendict offers comprehensive vendor analysis, internal risk management, and regulation tracking.
- Customers attest to Vendict’s game-changing impact, recommending it for improving RFI and security questionnaire responses.
- The future vision of Vendict involves eliminating questionnaires altogether by generating security assessment reports based on sellers’ documents.
Main AI News:
Vendict, a pioneering technology startup based in Israel, has officially come out of stealth mode with an impressive $9.5 million in funding, led by Disruptive AI, NFX, and Cardumen Capital. Co-Founded by esteemed corporate hi-tech veterans Udi Cohen and Michael Keslassy, Vendict aims to revolutionize the Governance, Risk, and Compliance (GRC) landscape by harnessing the power of linguistic generative AI. Their groundbreaking solution is set to drive businesses forward by assisting technology vendors in meeting their security requirements while simplifying the adoption of new technologies.
In the current landscape, technology vendors undergo assessment through extensive security questionnaires, which are traditionally filled out manually. However, with the invaluable guidance of Disruptive AI, Vendict has harnessed the capabilities of Generative AI to respond to these questionnaires, resulting in tremendous time savings of hundreds of working hours each month. This cutting-edge technology not only streamlines the sales process but also provides organizations with a distinct competitive advantage.
Pioneering the Realm of Security Language Mastery
Udi and Michael were quick to identify the existing gaps within the industry that demanded attention. While existing solutions primarily focus on optimizing workflows, they fail to eliminate the need for human experts to handle intricate tasks. Consequently, organizations allocate only a fraction of their security compliance budget to tools, limiting their potential.
Enter Vendict, equipped with the world’s first AI system that has mastered the language of security. By leveraging this groundbreaking technology, Vendict empowers security and GRC teams to mitigate risks, save invaluable time, gain an unrivaled competitive edge, and drastically accelerate sales cycles. Their comprehensive solution expertly combines the highly focused domain of security and vendor assessment with the limitless potential of AI.
In essence, Vendict delivers the AI-driven security expert that the industry has been yearning for. By comprehending the underlying meaning of textual content, security assessments are transformed from weeks-long endeavors into mere hours. With each interaction, the AI model grows more intelligent, continually enhancing its time-saving capabilities.
Foreseeing the potential of Natural Language Processing (NLP) and Generative AI as vital technologies to revolutionize security questionnaires, Michael and Udi were ahead of their time. While others only recently witnessed these groundbreaking breakthroughs, the Vendict team had already recognized the inherent value of combining NLP and AI to automate all aspects of compliance tasks.
Gadi Tirosh, Venture Partner at Disruptive AI VC, affirms, “We acknowledge that Vendict effectively addresses a genuine concern associated with establishing trust among buyers, sellers, and regulators. Their innovative solution ingeniously combines their unique AI technology with precise utilization of generative AI techniques.”
Delivering Optimal Security Compliance through AI
Vendict tackles questionnaires by extracting pertinent information from an organization’s compliance data, including past responses, audit reports such as SOC-2, policies, and procedures. Leveraging their Generative AI stack, Vendict crafts accurate and professional responses for each question and questionnaire. Moreover, Vendict guides companies on their journey to enhance their security compliance posture, enabling them to expand into additional industries and verticals.
With Vendict, buyers gain access to quick and comprehensive end-to-end vendor analysis, tailored to their industry, service criticality, and data sensitivity level. Furthermore, Vendict assists buyers in internal risk management, internal audits, and tracking regulatory compliance.
Raul Zayat Galante, Head of Security at Orca Security, attests to the transformative impact of Vendict, stating, “We used to spend hours manually compiling and updating our responses to RFIs and security questionnaires. It was a tedious and error-prone process. But since we started using Vendicts, it’s been a game-changer. Vendict provides a centralized knowledge base for all our compliance documentation, making it effortless to find and update information. Additionally, their questionnaire filling plugin automates the process of answering online RFIs, significantly reducing our response time. We now have greater confidence in the accuracy and completeness of our responses. We highly recommend Vendicts to any organization looking to streamline their RFI and security questionnaire response process.”
Overcoming the Disliked Task of Security Questionnaires
Filling out security questionnaires has consistently ranked as one of the least favored activities for CISOs, GRC specialists, and sales engineers. However, Vendict has successfully eliminated this pain point through its GRC-specific generative language model, offering the first true solution to this long-standing challenge. As CEO, Udi Cohen witnesses firsthand the astonishment of customers when they realize they no longer need to manually respond to questionnaires. This achievement brings him immense satisfaction that words cannot fully express. Yet, Vendict doesn’t stop there. The company is currently developing technology that will eliminate the need for questionnaires altogether. Vendict’s future vision involves generating security assessment reports for buyers based on sellers’ documents and vendor criticality, propelling the industry into a new era of efficiency.
Udi Cohen, Co-Founder and CEO of Vendict, confidently asserts, “Vendict effectively addresses a genuine issue related to establishing trust among buyers, sellers, and regulators. Their solution innovatively combines their unique AI technology with the precise utilization of generative AI techniques. By building the world’s first security language AI model, Vendict helps their customers reduce risks, save time, and accelerate sales cycles.”
Conclusion:
Vendict’s successful emergence from stealth mode and securing $9.5 million in funding signifies a significant milestone for the market. By leveraging generative AI and mastering security language, Vendict is poised to transform security compliance for technology vendors. Their innovative solution not only saves time and streamlines processes but also provides organizations with a competitive advantage. With the ability to automate security questionnaires and enhance compliance posture, Vendict offers a comprehensive and efficient approach to risk management. This development sets a new standard in the industry, paving the way for increased adoption of AI-driven solutions and revolutionizing the market’s approach to security compliance.
