Lasso Security has emerged from stealth mode and announced a significant milestone in its growth journey of $6m.
According to Help Net Security, the investment was led by Entrée Capital, and featured the participation of Samsung Next, marking a strong vote of confidence in Lasso Security’s innovative approach to cybersecurity.
Lasso Security has carved out a unique niche in the burgeoning field of cybersecurity, especially in relation to Large Language Models (LLMs) and Generative AI. The company is setting new standards in the industry by safeguarding every touchpoint involving these advanced technologies. This approach ensures comprehensive protection for businesses leveraging these rapidly evolving digital innovations.
The newly acquired funds are earmarked for strategic growth initiatives. Lasso Security plans to expand its team and further enhance its cybersecurity offerings. This investment will enable the firm to scale its operations and continue its mission of providing top-tier security solutions.
At the core of Lasso Security’s mission is a commitment to equipping pioneers in the Gen AI and LLM space with state-of-the-art security solutions. The company is addressing a range of sophisticated and evolving cybersecurity threats. These include challenges such as model theft, malicious code generation, prompt injection, and data poisoning, among others. Lasso Security also offers essential oversight in areas like sensitive data disclosure and provides real-time guidance on the safe use of LLM-based workplace tools.
Elad Schulman, CEO of Lasso Security, highlighted the urgency of their mission. “The capabilities of LLMs are extraordinary, revolutionizing information processing but also introducing openings for cyber criminals in enterprise settings,” he said. “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.”
Eran Bielski, General Partner at Entrée Capital, also commented on the funding. “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,” he stated. “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.”
René Bonvanie, former CMO of Palo Alto Networks and the newest member of Lasso’s Advisory Board, also emphasized the timeliness and necessity of Lasso’s solutions. “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,” he added.
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Copyright © 2018 RegTech Analyst