A French cybersecurity startup – Qevlar AI has secured €4.5 million in seed funding led by EQT Ventures known for its recent investment in Kota. The round also saw participation from global leading angels in tech and AI such as Olivier Pomel, CEO of Datadog, Mehdi Ghissassi, Director of Product at Google DeepMind, and Florian Douetteau CEO of Dataiku, Edouard Viot, VP Product of GitGuardian and Tarik Dadi, CEO of Qantev.
The fresh funds will help Qevlar AI to continue to grow its team and further invest in the product to continue to be one step ahead of cybercrime.
Gen AI to investigate cyber hacks
Cyber-attacks are increasingly having a sizable financial impact on businesses. As per research, there has been a 38% year-on-year increase in cyber attacks in 2022 as compared to 2021. With tech developments such as AI making attacks increasingly sophisticated and the volume of attacks rising, it is estimated that the cybersecurity market has grown to a staggering $1.5 trillion to $2 trillion and that it will continue to grow.
Combating this, Qevlar AI has built a generative AI solution to replace manual cybersecurity investigation and detection processes with automation. It is tailor-built for enterprise environments, which often grapple with complex security challenges. The autonomous investigation API facilitates rapid and automated analysis of potential security incidents, eliminating the bottleneck of manual intervention and executing investigation tasks in under a minute, which could take human experts hours to complete.
Its proprietary models create security playbooks based on the alerts they investigate, continuously enhancing its defences. Qevlar AI technology seamlessly integrates with any existing security infrastructure an organisation has in place, allowing for swift integration. Businesses leveraging Qevlar AI have experienced a 30% boost in security operations efficiency, which will continue to grow in the coming months as the technology matures.
Ahmed Achchak, Co-Founder and CEO, said: “Organisations are confronting a rise in the complexity and number of attacks, amid a shortage of available human resources. Driven by fast-evolving technology, threat actors are leveraging machine learning to sophisticate phishing attempts and infiltrate systems deemed previously safe. Businesses need to react quickly and Qevlar AI is here to help them do so smartly and efficiently.”
“We believe in the transformative power of AI in enhancing the capabilities of cybersecurity professionals and Security Operations Centers (SOCs). Qevlar AI’s innovative approach addresses the pressing challenges in SOC management, offering a promising solution to the long-standing quest for effective automation,” said Julien Hobeika, Partner at EQT Ventures. “Qevlar AI’s proprietary AI technology promises to alleviate the burden on analysts, minimize human errors, and fortify responses, meeting the crucial demands of our increasingly digital and security-conscious world.”