Liminal, a leader in horizontal GenAI data security, has announced the successful raising of more than $5m in an oversubscribed seed funding round.
The investment round was led by Fin Capital, with additional participation from High Alpha, Matchstick Ventures, Craft Ventures Scout Fund, and veteran regulated industry executives.
This new influx of capital will enable Liminal to swiftly enhance its ability to help customers securely deploy and utilise generative AI. The rapid proliferation of generative AI in the past 18 months, with over 12,000 generative AI-enabled applications released in the past year, has presented regulated organisations with significant data security and privacy challenges.
Liminal’s platform is model-agnostic and horizontal, providing secure workflow tools that allow regulated organisations to benefit from the productivity enhancements of generative AI while maintaining regulatory compliance and protecting sensitive data such as intellectual property, employee information, and customer data. The platform ensures secure interactions with generative AI, offering a seamless experience for end users and comprehensive oversight for security teams.
The company intends to use the new funding to accelerate the adoption of generative AI in regulated industries by enhancing its robust data protection and secure workflow tooling capabilities. This strategic investment will support Liminal’s mission to enable organisations to confidently leverage generative AI technologies while addressing the associated security and compliance concerns.
Steven Walchek, founder and CEO of Liminal, emphasised the importance of their platform in the current landscape. “The rise of generative AI and its associated security risks have made it challenging for regulated enterprises to adopt these technologies,” Walchek said. “Our platform and workflow tools are designed to help organisations quickly get started with the low-lift, high-impact use cases, while also providing the necessary safeguards for more complex and transformational AI implementations.”
Christian Ostberg, General Partner at Fin Capital, underscored the transformative potential of AI in financial services. “We are already seeing the transformative power of AI in financial services. However, the barriers to its full adoption and potential are significant,” Ostberg said. “With generative AI budgets expected to triple between 2023 and 2025, Liminal is uniquely positioned to unlock the adoption of AI for large enterprises in regulated industries by solving AI data privacy, security, and sovereignty.”
Copyright © 2024 RegTech Analyst
Copyright © 2018 RegTech Analyst
