PRESS RELEASE

TEL AVIV, Israel--(BUSINESS WIRE)-- Aim Security, enabling the secure adoption and use of AI across enterprise organizations, today announced $18 million in Series A funding led by Canaan Partners, with participation from the company’s seed investor, YL Ventures. Founded by cybersecurity veterans Matan Getz, CEO and Adir Gruss, CTO, who have broken and built AI platforms, including in the IDF’s elite intelligence Unit 8200. Aim’s backers include the founders of WIZ and industry leaders from Palo Alto Networks, Proofpoint and Google. This is among the fastest Series A rounds in cybersecurity history and brings Aim’s total funding to $28 million.

“Generative AI is transforming industries from finance to healthcare. However, this power also comes with significant risks and the need for robust security solutions developed specifically for generative AI has never been more urgent,” said Joydeep Bhattacharyya, General Partner at Canaan. “Aim Security has quickly moved to the forefront of this industry through its rare combination of expertise, customer-centric ethos and impressive revenue growth. I’m confident Aim Security is uniquely positioned to enable enterprises to harness the transformative power of AI, securely and at scale.”

AI applications, ranging from chatbots and virtual assistants to AI productivity tools like Microsoft 365 and GitHub Copilot, have rapidly integrated into the fabric of enterprise business workflows and technology stacks. Yet, as enterprises increasingly embrace AI technology, given its supercharged ability to enable business growth and efficiency, security leaders find themselves caught in a perpetual cycle of “playing catch-up” in addressing the unique data, privacy and security challenges AI technology introduces. The result is either blocking its use entirely, negatively affecting business and efficiency goals, or placing the organization at risk.

“The stringent regulations of the finance industry and concern for our customers’ data make GenAI adoption challenging,” said Drew Robertson, CISO at Finance of America. “Aim secures the entire breadth of our GenAI use, no matter where it is applied — public SaaS apps, enterprise chats, or our own internal developments — and helps us place and enforce the guardrails that fit our industry regulations and unique needs.”

Aim’s proactive, all-encompassing security platform governs and secures all forms of AI use across the modern business environment. Specifically tailored for AI’s unique threats, including sensitive data exposure, supply chain vulnerabilities, harmful or manipulated outputs and the emergence of attack methods such as jailbreaks and prompt injection, Aim’s platform has already engendered significant customer trust across highly regulated industries including banking, insurance, healthcare, manufacturing and defense.

“Enterprise customers from a wide range of industries repeatedly asked us, ‘How can we embrace the undeniable advantages of cutting-edge AI technologies, such as heightened efficiency and optimized decision-making, without crossing our acceptable risk threshold,’” said Matan Getz, CEO of Aim Security. “At Aim, our mission is clear: to serve as the trusted AI security ally for enterprise security leaders and allow organizations to confidently unleash the potential of these technologies within their environment, knowing that Aim is their protection layer.”

Aim seeks to empower businesses to harness the endless, revenue-boosting opportunities of increased growth and efficiency with AI while ensuring utmost security confidence. With this in mind, Aim’s platform is designed to address all relevant aspects of AI use in the modern business environment with a holistic approach. CISOs can become business enablers by encouraging employees to use chatbots, securing enterprise copilot deployments and helping developers build custom GenAI applications securely.

“Matan and Adir have a unique and forward-leaning grasp of current and future GenAI risks, and how the hyper-dynamic GenAI Security space will evolve in the future,” says Ofer Schreiber, Senior Partner at YL Ventures. “Their profound expertise and acute understanding of this space led to their vision for Aim—the most holistic, comprehensive GenAI security platform in this explosive sector, rife with emerging niche products and established vendors with partial solutions. Over the past several months, we’ve seen this validated by innovative enterprise customers, who have made Aim their trusted partner in their GenAI adoption journey, and from the industry's leading investors including Canaan, with whom we are extremely excited to partner in this round.”

For more information on how Aim Security can help drive secure GenAI adoption, please visit: Aim.Security

About Aim Security

The Age of GenAI is radically transforming the traditional security stack. Aim Security is the enterprise-trusted partner to secure GenAI adoption, equipping security leaders with the ability to drive business productivity while providing the right guardrails and ensuring proactive protection for all use cases across the entire organization, whether enterprise use or production use. Leading CISOs and security practitioners on their secure GenAI journey, Aim empowers enterprises to unlock the full potential of GenAI technology without compromising security.

About Canaan Partners

Canaan is an early-stage venture capital firm that invests in entrepreneurs with visionary ideas. With more than $7 billion under management, a diversified fund and hundreds of exits to date, we partner with entrepreneurs building the next generation of technology and healthcare companies that will transform how we live, work and thrive. To learn more about our people and our portfolio, please visit: www.canaan.com

About YL Ventures

YL Ventures funds and supports visionary cybersecurity entrepreneurs from seed to scale to help them evolve transformative ideas into market-leading companies. The firm accelerates company growth with tailored support through its powerful network of Chief Information Security Officers, global industry leaders, and a dedicated team of multidisciplinary experts. Based in Silicon Valley, New York and Tel Aviv, YL Ventures manages five funds with $800M in total AUM. The firm has a track record of seeding cybersecurity unicorns such as Axonius and Orca Security, and its portfolio companies have been successfully acquired by high-profile, global industry leaders including Palo Alto Networks, Microsoft, Okta and Proofpoint. In 2022, YL Ventures ranked 8th out of over 250 venture capital firms in PitchBook’s prestigious Global Manager Performance Score League Tables and was the only cybersecurity-focused VC to secure a top 10 spot on the list.