A Washington, D.C. startup called CalypsoAI has raised $23 million in venture capital funding to tackle the safe and responsible use of generative AI and machine learning in the enterprise.
The company, founded by DARPA, NASA, and US Department of Defense veterans, said the Series A-1 financing was led by Paladin Capital Group. Existing investors including Lockheed Martin Ventures, new investors Hakluyt Capital and Expeditions Fund, also took equity stakes.
Calypso AI said the new money will be used to build out its Large Language Model (LLM) security solutions, talent acquisition, and go-to-market investments to cash in on growing demand for generative AI applications in business and government markets.
CalypsoAI has raised a total of $38.2 million to work on technology that it says will “accelerate trust and governance” in enterprise and government adoption of AI and machine learning. The company said its technology can be used to test, validate, and monitor internally developed as well as third-party AI applications prior to deployment.
The company is touting its new CalypsoAI Moderator as an AI governance product that take advantage of the potential of LLMs responsibly and securely, while reducing risk. The tool can be used to actively monitor LLM usage in real time across an organization and flag risks like DLP (Data Loss Prevention), Jailbreak prevention and malicious code detection.
“The platform prevents data loss by preventing sensitive company information from being shared on public LLMs; identifying and stopping malicious attacks deployed from within generative AI tools,” CalypsoAI said in a note announcing the new capital.
CalypsoAI is among a growing list of venture capital funded startups looking to find profits in security AI deployments at highly regulated financial services institutions, insurance companies, and government organizations.
Consulting giant KPMG recently spun out a venture-backed startup building technology to secure AI (artificial intelligence) applications and deployments. The new startup, called Cranium, has ambitious plans to be a big player in a future where AI models — and the data flowing through them — need to be secured.
At the annual RSA Conference this year, a tiny Texas company called HiddenLayer won the ‘Most Innovative Startup’ prize for its technology that promises to monitor algorithms for adversarial ML attack techniques.
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Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a security community engagement expert who has built programs at major global brands, including Intel Corp., Bishop Fox and GReAT. Ryan is a founding-director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world.
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