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Leadership in Generative AI Security Prompt Security has secured $18 million in Series A funding to scale its platform and protect companies against threats specifically from AI. This round was led by Jump Capital, along with further investment from Hetz Ventures and Ridge Ventures, as well as tech giants Okta and F5. With this funding, Prompt Security will be able to expand its offerings, providing comprehensive security and governance for GenAI tools that organizations across industries rely on.
It is on the mission to help organizations tap the potential of GenAI while eliminating risks associated with it. The Prompt Security platform ensures that businesses can safely use GenAI tools by securing all touchpoints of AI, including coding assistants, browsers, copilots, and internally developed applications. The company’s platform provides full visibility and control of using AI within organizations, which enables enterprises to keep sensitive data and intellectual property safe from potential threats.
AI security breaches are emerging as a concerning threat for enterprises. Based on Gartner’s 2023 survey, almost 30% of business ventures have been victims of an AI-related security breach. According to a study done by Prompt Security, the majority of enterprises use an average of 67 GenAI tools, most without proper licensing or corporate approval. Alarmingly, 39% of these tools are configured to train on enterprise data, thereby increasing the risk of leaking data and violating all sorts of policies related to sensitive information.
Itamar Golan, Co-Founder and CEO of Prompt Security, believes that the funding will accelerate its efforts to provide secure and safe GenAI deployment across organizations, mitigating emerging risks. As it turns out, more enterprises have indeed adopted GenAI, bringing with them increased associated risks, said Golan. As soon as the company receives the new capital, it will increase its technical capabilities, expand geographically, and grow its presence in various industries.
The Prompt Security platform caters to a wide range of AI-related risks, such as prompt injection, jailbreaks, shadow AI, and data leaks. Inspection into the AI prompts as well as model responses ensures that enterprises avoid harmful content and do not leak their data. The platform also provides flexible deployment options that cater to a variety of needs within organizations, designed to provide the most comprehensive governance and policy enforcement around AI tools utilized in businesses.
Notably, Prompt Security was the first in the marketplace to provide full security and governance for Microsoft 365’s Copilot. Since coming out of stealth earlier this year, it has seen rapid growth-the company quadrupled its revenue while increasing its customers fivefold. Among its customers are several Fortune 500 companies-there’s massive demand for such AI security solutions.
Prompt Security’s leadership team brings a lot of expertise in both cybersecurity and AI. CEO Itamar Golan has a solid background, having established AI divisions in Check Point Software Technologies and Orca Security. He was also part of the development process for creating OWASP’s Top 10 for LLM Applications. Co-founder and CTO Lior Drihem has some 18 years of tenure at Check Point, having contributed to the development of the company’s security solutions, including building features for GPT-3 technology in cybersecurity at Orca.
Saurabh Sharma, Jump Capital’s partner said that the approach Prompt Security had towards securing AI in organisations was hailing him. “Prompt Security is addressing one of the most critical gaps in the rapidly evolving AI landscape,” he said. “We believe their platform is well-positioned to become a leader in the growing field of GenAI security.
Security professionals also acknowledge the challenges AI security poses. Shawn Bower, Chief Information Security Officer at The New York Times, said: “The security of the AI landscape is hard to secure in an organization. The comprehensive approach Prompt Security covers all employees, developers, and applications provides a solution to this challenge.
With the additional capital injection, Prompt Security is well-positioned to continue innovating and expanding its offerings to help businesses protect against the risks of GenAI tools. As more industries continue to adopt AI in their operations, Prompt Security’s platform will be critical in ensuring that enterprises can benefit from the integration of AI while maintaining stringent security and governance control.
