• Tue. Apr 23rd, 2024

CalypsoAI secures $23 million to lead enterprise AI security market

Bynewsmagzines

Jun 27, 2023
CalypsoAI secures $23 million to lead enterprise AI security market

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CalypsoAI, an artificial intelligence (AI) security startup based in Silicon Valley, announced today that it has raised $23 million in Series A-1 financing to accelerate the development of its AI governance solutions. The funding round was led by Paladin Capital Group, with participation from Lockheed Martin Ventures and other investors. 

In an interview with VentureBeat, Neil Serebryany, CEO and Founder of CalypsoAI, identified three main threats that could stall mainstream enterprise adoption of AI: “One, there’s a significant amount of information leaking into [popular] models; two, it’s the underlying models potentially not being trustworthy; and three, it’s this question of accountability and auditability.”

CalypsoAI’s solutions, including the Moderator and Vesper Validate, are designed to address these challenges, ensuring that organizations can safely embrace generative AI tools and protect their critical data. The company has already garnered attention as a key AI security solutions provider, identified by Forrester Research.

According to Serebryany, CalypsoAI’s solutions are becoming increasingly critical as enterprises adopt more sophisticated AI, such as large language models, that can generate trillions of dollars in value but also introduce cybersecurity risks if misused. The startup is positioning itself as an end-to-end platform for managing AI risk, from the algorithms themselves to how people actually interact with the technology.

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What sets CalypsoAI apart from other AI governance and security companies is its extensive experience. Serebryany explains, “We’ve been battle-tested as a company, we didn’t just pop up. We’ve been at this for four years, we’ve had to secure the most sensitive organizations in the world.”

The future of AI security and foundational models

The AI security market is expected to grow significantly in the coming years. According to Pitchbook, the global generative AI market is expected to reach $42.6 billion in 2023, as enterprises increasingly seek to adopt the technology to unlock new opportunities, enhance decision-making, and fuel innovation. Generative AI will also generate $4.4 trillion in economic value globally, according to McKinsey.

Serebryany sees the market breaking down into first-party and third-party risks, with foundation models playing a central role in the future of enterprise AI. CalypsoAI aims to secure enterprise use of these models, ensuring their safe deployment.

With nearly $40 million in total funding, CalypsoAI is poised to play a pivotal role in shaping the future of AI security and governance. As more organizations adopt AI technologies, the need for robust security solutions will only become more critical.

“The fact that the problem is just getting so pervasive right now: How do we actually adopt large language models? How do we do so safely? How do we make sure that our data doesn’t leak into these models? It’s so important right now and it’s only going to grow more and more important, as you see more and more enterprise embrace of AI,” says Serebryany.

As AI continues to transform the business landscape, CalypsoAI’s recent funding round is a clear signal that the industry is taking AI security seriously. The company’s innovative solutions and deep expertise make it a critical player in the rapidly evolving world of AI governance and security.

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