Aiming for securityA company that helps businesses safely adopt artificial intelligence (AI) has raised $18 million.
The Israeli company said in a press release on Monday (June 17) that this was one of the “fastest Series A rounds in cybersecurity history,” bringing Aim’s total funding to $28 million. press release.
“From chatbots and virtual assistants to Microsoft 365 and GitHub Copilotis rapidly integrating into the fabric of enterprise business workflows and technology stacks,” the company said in a news release.
But as businesses increasingly adopt artificial intelligence, security leaders are constantly struggling to address the data, privacy and security issues it brings, Aim added.
“As a result, their use may be blocked entirely, negatively impacting business and efficiency objectives and putting the organization at risk,” the company said.
Aim says its platform manages and secures the use of AI in all its forms in the business world and is specifically designed to address unique threats, including sensitive data leakage, supply chain vulnerabilities, and emerging threats such as jailbreaks and prompt injections.
The company says its platform is used by customers in “highly regulated industries,” including banking, defense, healthcare, insurance and manufacturing.
Aim’s new funding comes at a time when, as PYMNTS recently wrote, “companies operating in security-critical industries are reminded of the importance of security on a weekly basis.”
In the week prior to that report alone, “large amounts of data” had been stolen from at least 165 customers of multi-cloud data warehouse platform Snowflake, in a case believed to be linked to an earlier, larger data breach. Ticketmaster and Santander Bank.
The Snowflake attack came just a day after the city of Cleveland suffered its own cyberattack that knocked out its IT systems and services to citizens, and six days after testing services provider Synnovis fell victim to a ransomware attack that disrupted operations at a group of London hospitals.
As the report points out, the Snowflake attack could be the result of poor security measures and is a reminder that companies need to make sure they protect their walls.
“My first priority is to practice good cyber hygiene.” Rosa Ramos KwokManaging Director and Head of Business Information Security at a Commercial Bank J.P. Morgantold PYMNTS that companies sometimes lag behind in patching legacy systems, leaving “all kinds of vulnerabilities” in old software because companies “have other priorities or it’s too expensive.”