Jericho Security, a New York-based artificial intelligence cybersecurity startup, raised $3 million in pre-seed funding to combat the growing threat of generative AI-backed phishing attacks.
The round was led by Era, with participation from Lux Capital LP, Textbook LLC, Thorntree Capital Partners LP, MetaLabs Inc, FoundersXFund LLC, Alcove Inc., Alumni Venture Group, and Contrary Capital LLC.
Jericho helps businesses protect against social engineering phishing attacks by employing artificial intelligence to produce sophisticated simulations and instructive content for employees. According to the startup, it “uses AI to fight AI,” working as a white hat for organizations.
Sage Wohns, CEO and Co-founder, said, “Corporate cybersecurity solutions are antiquated and have become virtually obsolete overnight due to the magnitude, personalization and adaptive attacks from generative AI. Too often, companies only take proper cybersecurity action when it’s too late, following reputational harm and potential litigation.”
Jericho Security's platform utilizes robust language processing, proprietary privately hosted language models, and brokered insights to train employees with realistic, personalized simulations of threats from malicious actors. The platform offers businesses individualized feedback and team-wide data.
Company: Jericho Security
Raised: $3.0M
Round: Pre-Seed Round
Funding Month: August 2023
Lead Investors: Era
Additional Investors: Lux Capital LP, Textbook LLC, Thorntree Capital Partners LP, MetaLabs Inc, FoundersXFund LLC, Alcove Inc., Alumni Venture Group, and Contrary Capital LLC
Company Website: https://www.jerichosecurity.com/
Software Category: Cybersecurity Platform
About the Company: Founded by Tim Hwang, Sage Wohns, and Dan Chyan, Jericho Security offers proprietary generative AI, CyberGPT, to simulate attacks, create new defenses, and educate teams about how to prevent losses from cyberattacks. Jericho Security is focused on helping businesses defend against social engineering phishing attacks using artificial intelligence. The startup has collaborations with partners from various sectors, including healthcare, finance, and government. Jericho Security is on a mission to defend the world from the new threats of generative AI cyber-attacks.
Source: https://www.demandtalk.com/news/security-news/jericho-security-raises-usd-3m-to-mitigate-ai-backed-phishing-instances/