Knostic, a trailblazer in generative AI (GenAI) security, announced today that it has successfully closed a $3.3m pre-seed funding round.
This significant financial injection marks a robust entry for the company as it emerges from stealth mode and positions itself as a leader in need-to-know access controls for GenAI applications.
The funding round saw contributions from a diverse group of venture capital firms and angel investors including Shield Capital, Pitango First, DNX Ventures, and Seedcamp. Prominent industry figures such as Kevin Mahaffey of Lookout, David Cross of Rain Capital, and several others also backed the venture, underscoring the market’s confidence in Knostic’s innovative approach.
Knostic is setting new standards in data security by providing targeted access controls that align with organizational policies. This approach is crucial for businesses utilising large language models (LLMs) like Microsoft Copilot and Glean, which integrate institutional knowledge to generate ChatGPT-like interactions without compromising sensitive information such as sales data or M&A details.
The newly acquired funds will be instrumental in advancing Knostic’s technology which focuses on mitigating risks associated with GenAI tools. By refining their proprietary access control mechanisms, Knostic aims to equip enterprises with the necessary tools to safely harness the power of LLMs while protecting their most critical data.
In addition to enhancing their technology, Knostic plans to expand their reach within the enterprise sector, particularly focusing on organizations at the early stages of GenAI adoption. Their solutions help identify and rectify potential need-to-know violations, facilitating a safer and more compliant use of GenAI applications across various industries.
Knostic CEO Gadi Evron said, “From a misfiled payroll spreadsheet and a sensitive presenter comment left in a template, or even secrets inferred from legitimately accessible content, LLMs accelerate the discovery of harmful, and potentially dangerous information to anyone who asks. Knostic goes beyond legacy permission models and shapes access based on actual user need-to-know.”
Previously, Knostic has garnered attention as a finalist in the prestigious 2024 RSA Conference Launch Pad competition, a testament to its pioneering solutions in the burgeoning field of GenAI security.
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