With the increased reliance on AI, malicious actors are actively exploring vulnerabilities which, because of the very nature of AI, are much harder to detect. Based out of Prague, Resistant AI is a security company that helps to protect AI systems from targeted manipulation, adversarial machine learning attacks, and advanced fraud.
Raised €2.51 million!
Recently, the Czech company has raised $2.75 million (approx €2.51 million) co-led by Index Ventures (Jan Hammer) and Credo Ventures (Ondrej Bartos and Vladislav Jez) with the participation of Seedcamp. Daniel Dines, CEO of UiPath, Michal Pechoucek, CTO of Avast, and other angel investors have also invested.
Notably, Ondrej Bartos joins the board of directors on behalf of the investors. The company intends to use this funding for product development and hiring, including the expansion of its sales and support function for financial services and e-commerce customers.
Martin Rehak, Founder & CEO, Resistant AI:
“Historically, all systems that make high-value financial decisions become targeted. This is already happening with the automated systems deployed by our fintech and financial customers and we are here to protect them.”
Protects the machine learning system advanced fraud!
Resistant AI ensures that the AI-driven online and automated processes that these companies rely on have not been compromised.
The startup is deployed as additional protection specifically designed to tighten security around functions including credit risk scoring, fraud detection, and anti-money laundering to detect fake documents that feed systems.
The platform also discovers relationships between seemingly unrelated transactions to identify advanced fraud designed specifically to evade the current fraud prevention systems, such as synthetic identities, bust-out fraud, approval boundary probing, and many others;
Michal Smida, CEO of Twisto payments, said:
“Resistant AI is a critical part of our security infrastructure, giving us the confidence that we can rely on our machine-learning-based credit scoring system, which we use to automate the approval of credit payments. And it is because of Resistant AI that we don’t need to put in excessive security measures and make the customer experience much better.”
Jan Hammer, General Partner at Index Ventures added:
“Automation, efficiency, and reliability are cornerstones of financial innovation. As machine learning takes more and more nuanced financial decisions, it needs to be protected. And this is not true only in finance, but the attacks will rapidly spread to other domains as well. Bad actors are ready to take advantage of every vulnerability. More activity is taking place online today than ever before, a trend further accelerated by Covid-19. The need for solutions such as those from ResistantAI has never been greater.”
Founded in 2019 by Martin Rehak, Resistant AI is made up of a team with a deep technological background in machine learning, AI, and network security.
Ondrej Bartos, General Partner of Credo Ventures:
“We at Credo are always delighted to back founders of our past successful portfolio companies. Therefore we’re excited to co-lead the investment into Resistant AI whose founders we’ve worked with closely in the past years and our view have proven deep technology expertise and foresight which is exactly the toolset they need to tackle the security of AI decisions.”
Main image credits: Resistant AI
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