Lasso Security Leaders (from website)
Lasso Security, a new Israeli cybersecurity startup that has developed a cybersecurity platform for Large Language Models (LLMs), raised $6 million in a Seed round of funding led by Entrée Capital with the participation of Samsung Next. Meanwhile, its fellow Israeli cybersecurity company Kaymera Technologies is now $7.4 million in debt.
Kaymera said that its revenue dropped sharply in 2023.
Founded in 2013, Kaymera calls itself as a data-driven secure mobility company providing SaaS and on-premise mobile security solutions for enterprises and individuals worldwide.
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And that is not all. Lasso Security also entered into a partnership with the Duvdevan Foundation and the National Union of Israeli Students and together raised donations totaling $ 1.5 million. The funds provided for the procurement of 800 packages of protective gear and essential equipment that was provided to IDF forces currently fighting in the Gaza area.
to the soldiers, to ensure their safety.
The Duvdevan Foundation is the only Foundation that represents graduates of the Duvdevan Undercover Unit of the IDF.
Founded in 2023, Lasso Security calls itself a “pioneer cybersecurity company safeguarding every Large Language Models (LLMs) touchpoint, ensuring comprehensive protection for businesses leveraging generative AI and other large language model technologies. “
“The capabilities of LLMs are extraordinary, revolutionizing information processing but also introducing openings for cyber criminals in enterprise settings,” said 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.”
And that is not all. Lasso Security was one of two Israeli firms last week that refused to accept any funding from Web Summit, after its now former CEO and co-founder Paddy Cosgrave accused Israel of committing war crimes in its fight against the terrorist organization Hamas in Gaza saying, “War crimes are war crimes even when committed by allies, and should be called out for what they are.”
