Backed by Jump Capital and Okta, the company reports a fivefold increase in customers, counting Fortune 500s among them
NEW YORK, NY / ACCESSWIRE / November 20, 2024 / Prompt Security, a leader in Generative AI (GenAI) Security, announced today that it has secured $18 million in a series A funding led by Jump Capital, with participation from Hetz Ventures, who doubled down on their initial investments, Ridge Ventures and major tech companies Okta and F5. Prompt Security will use the new funds to further its mission to protect enterprises from GenAI threats while offering clear visibility into and governance over GenAI tools. By securing every touchpoint of AI in the organization, including browsers, copilots, coding assistants, or homegrown applications, Prompt Security's platform enables companies to use GenAI safely without compromising data privacy or security.
Almost 30% of enterprises deploying AI had an AI security breach, according to Gartner's AI in the Enterprise Survey of 2023. Prompt Security's customer research reveals that the average enterprise uses 67 GenAI tools, with almost 90% of them lacking proper licensing or corporate approval. What's more, 39% of these tools are configured to train on enterprises' own data, which can result in policy violations involving sensitive intellectual property.
"As enterprises accelerate their adoption of GenAI, so do the associated risks. This funding supercharges our mission to enable the safe use and deployment of GenAI in enterprises by mitigating such risks," said Itamar Golan, Co-Founder and CEO of Prompt Security. "With the support of our investors, we will continue advancing our solutions and expanding both our geographic footprint and presence across different industries."
Prompt Security enables enterprises to safely adopt GenAI by protecting applications, employees, and customers from a wide range of AI-specific risks. It inspects prompts and model responses to prevent data leaks, blocks harmful content, and secures against GenAI-specific attacks like shadow AI, prompt injections, and jailbreaks. The platform offers full visibility, governance, and policy enforcement over AI tools used within organizations, with flexible deployment options to serve any use case. Notably, Prompt Security was the first vendor to provide comprehensive security and governance of Copilot for Microsoft 365. Since emerging from stealth this past January, Prompt Security has quadrupled its revenue and grown its customer base fivefold, counting Fortune 500 companies among them.
Prompt Security's founding team brings deep expertise in cybersecurity and AI. Co-founder and CEO Itamar Golan established AI divisions at Check Point Software Technologies and Orca Security and was part of the core team of OWASP's Top 10 for LLM Applications. Co-founder and CTO Lior Drihem, with 18 years at Check Point Software Technologies, rose to Director of Innovation and later collaborated closely with Golan on API and cybersecurity's first GPT-3 integration at Orca.
"Prompt Security is addressing one of the most critical gaps in today's rapidly evolving AI landscape," said Saurabh Sharma, Partner at Jump Capital. "Prompt Security's innovative platform secures organizations from the already widespread use of AI, and we are convinced that they are well-positioned to conquer one of the fastest-growing markets in security today. We're excited to support their mission to protect businesses from emerging AI threats, and we believe their approach will redefine GenAI Security."
"Generative AI's productivity gains are essential for staying competitive in today's fast-paced tech landscape, but legacy tools aren't enough to safeguard them," said Richard Moore, Security Director at 10x Banking. "Prompt Security's comprehensive GenAI Security platform empowers us to innovate at business speed while ensuring we meet industry regulations and protect customer data, giving us the peace of mind we need."
About Prompt Security
Founded in August 2023, Prompt Security enables enterprises to benefit from the adoption of Generative AI while protecting from the full range of risks to their applications, employees, and customers. At every touchpoint of Generative AI in an organization - from GenAI tools used by employees to GenAI integrations in homegrown applications - Prompt Security inspects prompts and model responses to prevent the exposure of sensitive data, blocks harmful content, and secures against GenAI-specific attacks. The solution also gives companies' leadership complete visibility into and governance over the GenAI tools used within their organization.
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SOURCE: Prompt Security
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