Aim Security, a 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 the funding is one of the “fastest Series A rounds in cybersecurity history” and brings Aim’s total funding to $28 million.
“From chatbots and virtual assistants to AI productivity tools like Microsoft 365 and GitHub Copilot, AI applications are rapidly being integrated 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.”
The news comes just one week after “large amounts of data” were stolen from at least 165 customers of multi-cloud data warehouse platform Snowflake, in a case believed to be linked to earlier major data breaches at Ticketmaster and Banco Santander.
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.
“The first thing I would say is good cyber hygiene,” Rosa Ramos-Kwok, managing director and head of business information security for JPMorgan's commercial banking division, told PYMNTS, noting that companies sometimes lag behind in patching legacy systems, resulting in “all kinds of vulnerabilities” in outdated software because they “have other priorities or it's too expensive.”
