An innovator in Large Language Models (LLMs) cybersecurity, Lasso Security raised USD 6 million in seed round. The round took place on November 20, 2023. Entrée Capital led the financing for the company. Meanwhile, Samsung Next also joined in the funding.
Purpose of financing for Lasso Security
With the latest financing, Lasso Security seeks to ramp up its hiring operations and expand its team. It further has plans to enhance its offerings.
What the company’s official has to add
Elad Schulman, CEO of Lasso Security, said, “The capabilities of LLMs are extraordinary, revolutionizing information processing but also introducing openings for cyber criminals in enterprise settings. As early as next year, organizations without a dedicated Gen AI risk management solution will experience negative outcomes. At Lasso, we’ve analyzed numerous LLM security challenges and developed a comprehensive solution encompassing preventative and remediation measures. Our mission is to equip businesses with robust defences to safeguard their systems, including those using generative AI technologies that leverage LLMs. Every data point, command, and prompt generated by LLMs will be under the vigilant oversight of our sophisticated security platform, enabling teams to embrace generative AI without jeopardizing their data’s safety and security.”
What the investors have to comment
Eran Bielski, General Partner at Entrée Capital, further said, “LLMs are undoubtedly one of the greatest technological leaps of our time. However, with this opportunity comes a new set of cybersecurity and compliance risks. These challenges should not hinder technological progress. Lasso’s solution directly addresses the vulnerabilities associated with LLMs. This enables businesses to confidently integrate large language models into their products or internal tools while safeguarding their commercial data and information. We are thrilled to support and partner with Lasso as they work toward optimizing LLM security for enterprises.”
In addition, René Bonvanie, former CMO of Palo Alto Networks and the newest Lasso’s Advisory Board member said, “Large Language Models are already flourishing, and with their availability for greatness comes opportunities for malicious actors to take advantage. In the cybersecurity world, there is no time to assess and react; you need to be ahead of the game – Lasso has built a platform that deals with the current threat and anticipates the next, and I am confident in their vision and mission to secure generative AI and the businesses which depend on it.”
About the company
In 2023, Founders Elad Schulman, Lior Ziv, Ophir Dror and Yuval Abadi launched the company. Lasso Security is a pioneering comprehensive LLM cybersecurity startup. The company seeks to address the evolving threats and challenges that businesses are beginning to encounter with large language models (LLMs) at every touchpoint within their organizations.
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