Qevlar AI, a Parisian cybersecurity startup, has raised €4.5 million in a Seed round. The investment will be used to engage in a recruitment drive and further develop its generative AI cybersecurity solution.
The company’s €4.5 million Seed round was led by EQT Ventures and saw the participation of a number of angel investors including Olivier Pomel, CEO of Datadog, Mehdi Ghissassi, Director of Product at Google DeepMind, and Florian Douetteau CEO of Dataiku.
By the numbers
To put the enterprise-level cybercrime threat into context, in 2019, American wireless network operator Verizon released a data breach investigations report that determined, “a total of 56 percent of breaches took months or even years to detect – a significant sample size given the enormity of cyberspace that the 41,686 analyzed sites represent”.
Likewise, according to IBM it took companies 206 days to identify a breach after it occurred and another 73 days to contain the breach.
And thanks to the proliferation of generative AI, these numbers are only climbing, with Check Point Research finding that cyberattacks increased 38% year-on-year in 2022.
Bringing AI to the AI fight
Taking the AI fight to an AI fight, Qevlar AI is providing companies with an API solution that enables rapid and automated analysis of potential security incidents, thus eliminating the bottleneck of manual intervention. Furthermore, the offer will execute investigation tasks in under a minute, a task that traditionally has taken human experts hours to complete.
According to the company, customers leveraging Qevlar AI’s technology have seen a 30 percent increase in cybersecurity operations efficiency and up to 90 percent time saved per alert investigated.
On the investment, EQT Ventures’ Julien Hobeika shared:
“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.
“Qevlar AI’s proprietary AI technology promises to alleviate the burden on analysts, minimise human errors, and fortify responses, meeting the crucial demands of our increasingly digital and security-conscious world."
Lead image: rawpixel.com
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