Lakera Raises $20M Series A to Secure Generative AI Applications

Gandalf, the world's largest AI red team, was created by Lakera and trains AI to Secure AI

ZURICH and SAN FRANCISCO, July 24, 2024 /PRNewswire/ -- Lakera, the world's leading real-time Generative AI (GenAI) Security company, has raised $20 million in a Series A funding round. Led by European VC Atomico, with participation from Citi Ventures, Dropbox Ventures, and existing investors including redalpine, this investment brings Lakera's total funding to $30 million. This funding positions Lakera at the forefront of the global economy's race to secure GenAI applications. As part of this round, Atomico Partner Sasha Vidiborskiy will join Lakera's board.

It's been predicted that by 2026, 80% of enterprises will have used GenAI or GenAI-enabled applications in production environments, up from less than 5% in 2023. As businesses worldwide scramble to harness the power of GenAI without exposing themselves to AI-specific risks, the demand for Lakera's platform is expected to continue growing at a rapid clip.

While GenAI could add an estimated $4.4 trillion annually to global GDP, cybersecurity remains the second most-cited risk associated with its adoption as traditional cyber tools are ill-equipped to address the novel dangers it poses. This creates a critical need for security solutions that address GenAI-specific risks, without which businesses are unable to unlock the benefits of AI.

David Haber, Founder and CEO of Lakera, explains the urgency: "With the advent of GenAI, the old cybersecurity techniques aren't sufficient. Enterprises now operate in a world where anyone who knows how to talk knows how to hack. Security solutions need to change but they can't get in the way of user experience. There is a need for real-time AI security solutions that continuously evolve and enable amazing user experiences."

David elaborates in his blog published today.

Cybersecurity-risks posed by LLMs

The spectrum of LLM vulnerabilities is both diverse and severe:

• GenAI introduces prompt attacks as the most widely accessible hacking method. In the past, hackers needed to be able to code - but now, the only barrier to entry is being able to talk.
• Prompt attacks can easily be used to manipulate GenAI so that a malicious actor can gain unauthorized access to a company's systems, steal confidential data, take unauthorized actions, and generate harmful content.
• AI "sleeper agents" can lie dormant until activated for malicious purposes. Jailbreaking techniques can compromise powerful models in mere minutes.
• AI-targeted worms can bypass security measures, harvesting data and launching widespread attacks.
• Most alarmingly, researchers have shown the ability to jailbreak a million LLM agents with a single image in just 27-31 chat rounds, demonstrating the potential for rapid, large-scale compromises.

Lakera's comprehensive approach to AI security delivers three key benefits for enterprises: protection that doesn't slow down their AI applications; the ability to stay ahead of AI threats with continuously evolving intelligence; and centralized implementation of AI security controls.

The company's growth comes at a pivotal moment in AI development. With the adoption of GenAI, users now direct software applications using natural language, and Lakera's real-time AI security does not compromise application interactivity. To make implementation effortless for developers, the company's API can be integrated with a single line of code, providing an ultra-low-latency security layer compatible with any GenAI model. Centralized controls allow security teams to customize application-specific policies and address emerging threats without code changes.

Lakera is uniquely positioned to tackle these fast-changing challenges, in part thanks to Gandalf - an AI educational platform created by the company which serves as the world's largest AI red team. With over 250 thousand unique users worldwide, including companies such as Microsoft where it's used in security training, Gandalf generates a real-time database of AI threats which is growing by 100 thousands of uniquely new attacks every day and keeps Lakera's software up to date, ensuring continuous protection for customers. The 50+ million data points generated by Gandalf, combined with the founding team's deep experience in building AI systems with real-time requirements, means Lakera's customers are able to stay ahead of threats and deliver amazing user experiences.

Atomico Partner Sasha Vidoborskiy, who will join Lakera's board, said: "Lakera has seen impressive commercial pull, winning customers such as Dropbox and a top 3 US bank, and already having more than 35% of Fortune 100 companies knock on their door. All those clients have an urgency to deploy GenAI applications into production, but can't do it without protection in place. Easy integration, best-in-class performance, and low latency are why they pick Lakera. But most importantly, the company is led by David and his team, who are thought leaders in the space and have a deep understanding of what the adoption of AI means for new cybersecurity risks."

"At Dropbox, ensuring the security of our systems and customers' data is a top priority," said Donald Tucker, Head of Corporate Development and Ventures at Dropbox. "Lakera's team has extensive expertise and a deep understanding of the complex security challenges companies are facing with LLMs and Generative AI. Their advanced technology is helping companies like Dropbox safeguard against vulnerabilities these new technologies pose. We're thrilled to strengthen our existing relationship with Lakera by investing in the future of the company and AI security."

Lakera plans to use this funding round to invest further in its product development and expand its presence in the US, where it already has a foothold in Silicon Valley.

About Lakera
Lakera is the world's leading real-time GenAI security company. Customers rely on Lakera for security that doesn't slow down their AI applications. To accelerate secure adoption of AI, the company created Gandalf, an educational tool, where more than one million users have learned about AI security. Lakera uses AI to continuously evolve defenses, so customers can stay ahead of emerging threats. Lakera was founded by David Haber, Mateo Rojas-Carulla and Matthias Kraft in 2021.

About Atomico
Atomico invests in ambitious tech founders from Seed through to IPO with a particular focus on Europe, leveraging deep operational experience to supercharge their growth. Founded in 2006, Atomico has partnered with over 100 ambitious teams - including those at Klarna, Supercell, Graphcore, Compass, MessageBird, Masterclass, Attentive Mobile, Pipedrive and Hinge Health. Atomico's team of founders, investors and operational leaders have been responsible for global expansion, hiring and marketing at companies from Skype and Google to Twitter and Uber. The firm currently has $5B in assets under management.

Media Contact for Atomico
Bryce Keane
Partner and Head of Communications
Atomico
[email protected] 

Media Contact for Lakera
Kristianna Sanders
Media Relations Lead, Story Changes Culture
[email protected]

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SOURCE Lakera