Apex Launches with $7 Million Seed Funding to Enhance AI Security

Matan Derman (CEO) and Tomer Avni (CPO), Co-founders, Apex ● Photo Credit: Ben Hakim

TEL AVIV, Israel, May 3, 2024 (VSNewsNetwork.com) - Apex, a company specializing in AI security, has officially emerged from stealth mode with $7 million in seed funding. The investment round, co-led by Sequoia Capital and Index Ventures, will support Apex in its mission to provide robust security solutions for AI platforms. The company also received backing from several notable angel investors.

The rapid integration of generative AI across various industries has escalated the need for enhanced security measures. According to Apex, approximately 80% of Fortune 500 companies now utilize AI technologies like ChatGPT, posing new challenges such as data breaches, malicious data injections, and sophisticated AI-driven cyberattacks.

"Apex was founded with the mission of empowering security and AI teams to enable the secure and swift AI adoption within world-class organizations," stated Matan Derman, Co-Founder and CEO of Apex. "We aim to alleviate executives' concerns about AI security and ensure that organizations can leverage the benefits of AI without compromising safety."

Apex's platform offers comprehensive visibility into AI activity within organizations, enabling the enforcement of strict security policies and real-time detection and response to AI-related security incidents. This ensures that AI technologies are used securely across various sectors.

The company, founded in 2023 by Matan Derman and Tomer Avni, both veterans of the elite intelligence unit 8200, has quickly garnered attention from Fortune 500 companies. Plans for the funding include accelerating product development, expanding recruitment efforts, and enhancing market reach.

Bogomil Balkansky, Partner at Sequoia Capital, commented on the investment, "Every wave of disruptive innovation introduces new security threats and attack vectors, and generative AI is no exception. We are proud to partner with Apex as it quickly emerges as a leader in generative AI security."

Shardul Shah, Partner at Index Ventures, echoed this sentiment, highlighting the urgency of addressing AI security risks, "As companies start using AI and large language models, they expose themselves to new risks. Apex is focused on resolving this dilemma—one of the biggest cybersecurity challenges facing today’s tech industry—using an innovative framework that actively mitigates AI risks on a large scale.”

For more information on Apex and its AI security solutions, visit apexhq.ai.

Source: Apex via Newswire