Securing the Future of GenAI: Prompt Security's Series A Milestone
Today I am excited to share that Prompt Security has secured $18 million in Series A funding, led by Jump Capital and with participation from Hetz Ventures, Ridge Ventures, and tech giants Okta and F5. This investment is a testament to our invaluable stakeholders: our team, now 30 employees strong, whose dedication and diligence have propelled us to rapid growth and success; our customers, who drive us to innovate boldly; our partners, whose irreplaceable collaboration fuels our work; and our investors, whose steadfast belief in our vision and potential pushes us to dream bigger. I offer my heartfelt gratitude to each and every one of you.
Just 10 months ago, we emerged from stealth with a clear mission: to enable enterprises to harness the power of Generative AI safely and securely. In this short time, and as GenAI security has become top of mind for security decision-makers around the world, we have witnessed exponential growth in both the adoption of GenAI and the risks associated with this adoption. Our research reveals that the average enterprise uses 67 GenAI tools and that almost 90% of these tools lack proper licensing or corporate approval. This underscores the urgent need for comprehensive GenAI security solutions.
Prompt Security has risen to this challenge. By securing every touchpoint of AI in organizations – from browsers and copilots to coding assistants and homegrown applications, we are enabling companies to use GenAI safely without compromising on data privacy or security.
We have quadrupled our revenue and grown our customer base fivefold, now counting Fortune 500 companies among the enterprises we serve. We became the first vendor to provide comprehensive security and governance of Copilot for Microsoft 365, launched Prompt Fuzzer, the first open source vulnerability assessment tool for GenAI Apps, and partnered with F5 (now an investor) to deliver a firewall for AI, setting a new standard in application security.
We also take pride in achievements outside of our core business growth: We won Check Point Software Technologies’ CPX Innovation Sandbox, were named a top startup by Calcalist and IVC, gained recognition in a dozen Gartner Hype Cycles, and joined the seventh cohort of Deloitte Launchpad.
This is no time to slow down. Almost 30% of enterprises deploying AI have experienced an AI security breach. As we look ahead with determination and vigor, this new funding will help expand our geographic footprint and presence across different industries, letting us protect more enterprises from GenAI threats while offering them clear visibility into and governance over GenAI tools.
In securing GenAI, we are enabling innovation more broadly. As Director Of Security at 10x Banking Richard Moore put it, “Prompt Security's comprehensive GenAI security platform empowers us to innovate at business speed while ensuring we meet industry regulations and protect customer data.” Making security a catalyst for innovation is at the heart of what we do.
I look forward to reaching new heights together with you as Prompt Security builds a secure future for GenAI, one enterprise at a time.
-- Itamar Golan Co-Founder and CEO, Prompt Security
