Lasso Security Emerges From Stealth With $6M Seed Funding for Gen AI and Advanced LLM Cybersecurity

PRESS RELEASE

Tel Aviv – November 20, 2023 –Lasso Security, innovators in Large Language Models (LLMs)  cybersecurity, today announced a $6 million seed round led byEntrée Capital with the participation ofSamsung Next. Every few years there's a major technological revolution. In the 90s, it was the internet; in the 2010s, it was the cloud and most recently, we have Generative AI. The revolution that Gen AI and LLMs technologies have brought to organizations has been significantly embraced by hundreds of millions of end-users and hundreds of thousands of organizations. This swift adoption also presents a pressing issue — the significant cybersecurity challenges posed by LLMs, including data exposure, security and compliance risks. Lasso is setting the standard for LLM cybersecurity by safeguarding every LLM touchpoint, ensuring unrivaled, comprehensive protection for businesses leveraging Gen AI and other large language model technologies. The company intends to utilize the funds to expand its team and further enhance its offerings.  

Lasso Security’s mission is focused on equipping Gen AI and LLM pioneers with innovative security solutions that allow organizations to fully adopt the technologies. Lasso is addressing the numerous, sophisticated and evolving LLM cybersecurity threats, such as model theft, malicious code generation, prompt injection, data poisoning, and supply chain attacks. In addition, Lasso offers oversight when it comes to sensitive data disclosure, insight into how employees use LLM-based workplace tools, and provides guides on how to safely use them in real-time. 

“The capabilities of LLMs are extraordinary, revolutionizing information processing but also introducing openings for cyber criminals in enterprise settings,” says Elad Schulman, CEO of Lasso Security. “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 defenses 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.”

Through Lasso’s innovative Shadow AI Discovery, ongoing LLM Data-Flow Monitoring and Observability features, combined with a robust Real-time Detection and Alerting system Lasso is able to rapidly respond to emerging threats. Lasso further ensures end-to-end protection, aligning seamlessly with an organization’s security policies. With Lasso, organizations can safely integrate and deploy LLMs in production environments, preserving both data and user privacy while safeguarding against malicious threats. 

"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," stated Eran Bielski, General Partner at Entrée Capital. "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."

“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,” added René Bonvanie, former CMO of Palo Alto Networks, and the newest Lasso’s Advisory Board member.

Lasso Security boasts a team of seasoned entrepreneurs, cyber innovators, and data scientists with decades of collective experience. Despite being a recently established startup in 2023, Lasso is already collaborating with numerous organizations to bolster their LLM-based environments. 

About Lasso Security

Lasso Security is a pioneering comprehensive LLM cybersecurity startup that is committed to addressing the evolving threats and challenges that businesses are beginning to encounter with large language models (LLMs) at every touchpoint within their organizations. Founded in 2023 by Elad Schulman, Lior Ziv, Ophir Dror, and Yuval Abadi, Lasso is on a mission to help businesses deploy Generative AI successfully while ensuring the security of commercial data and the privacy of customers and employees.