Senseon, an AI platform for cyber defence, has completed a €5.6 million seed funding round led by venture capital fund MMC Ventures, alongside Mark Weatherford, former Deputy Under Secretary for Cybersecurity, US Department of Homeland Security. Additional investors include Amadeus Capital Partners, Crane Venture Partners and CyLon.
Where will the latest funding get utilised?
The latest funding will be implemented to scale up its technology and enhancing its presence in the US, Europe, Middle East and Africa.
Senseon: ‘AI Triangulation’ system
Founded in 2017 by David Atkinson in London, Senseon claims to be the first ever cyber operative within the UK’s specialist military units and offers businesses to keep pace with the increase of emerging cyber-attacks. Atkinson’s extensive expertise in cybersecurity, both for enterprises and at a national level, inspired him to create the ‘AI Triangulation’ system at the heart of the Senseon platform.
AI Triangulation ensures complete visibility across organisations’ entire digital estates and provides context to automatically determine genuine cyber threats in the noise of busy networks. The Senseon platform learns and adapts to organisations’ environments and provides highly accurate threat detection that reduces false positive alerts, which the average organisation wastes 425 hours a week investigating, costing them USD1.37million per year.
Regarding the “AI triangulation” system, Atkinson revealed that the system was earlier an analytics concept first introduced by the CIA in the U.S. It was a way of uniting multiple vectors of information to discover inconsistencies in a data set.
Why is this startup necessary in today’s time?
Regarding the need of the startup, founder and CEO of Senseon, David Atkinson, says: “Cyber-attacks are one of the greatest concerns for the modern business. Organisations’ networks are becoming increasingly complex and accelerated tech adoption creates additional noise for attackers to hide within. Meanwhile, attacker innovation is growing, and their techniques evade current cyber defence tools, which are unable to differentiate between genuinely malicious threats and merely new or unusual activity.”
“The Senseon team understands too well the woes of enterprises and their security teams who have to keep up with the evolving landscape of cyber-crime, while also trying to cut through the noise and work out which threats on their network are genuine. We created Senseon to tackle this specific problem. The intelligence behind the Senseon product, and its ability to automatically detect and investigate threats across the entire organisation, is reducing the burden placed on already-stretched security teams and freeing up resources to focus on what matters: investigating actual threats.”
Mina Samaan, MMC Ventures, says: “Cyber security continues to be the number one priority for technology deployments by CIOs. Organisations of all sizes need to get better at keeping pace with emerging threats, but more importantly, identifying the attacks that require intervention. Senseon’s technology directly addresses this challenge by using reinforcement learning AI techniques to help over-burdened security teams better understand anomalous behaviour through a single holistic platform.”
“This is an evolving and difficult problem which requires a world-class team to solve it. We have been very impressed with David and the Senseon team and are excited to be a part of their next phase of growth.”
CyLon Co-Founder, Grace Cassy, says: “Businesses see real value in the way Senseon’s product – through the use of AI Triangulation – can provide them with one cohesive platform that protects their organisation from emerging threats, replacing the need to purchase and maintain multiple single-point solutions.”
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