Priya Patel
TLDR:
- Israeli cyber security start-up Apex received investment from OpenAI Chief Executive Sam Altman.
- Apex raised $7 million in a seed funding round led by Sequoia Capital.
Israeli cyber security start-up Apex, focusing on protecting the rapid use of artificial intelligence (AI) tools, recently received an investment from OpenAI Chief Executive Sam Altman. Altman’s investment was part of a $7 million seed funding round led by Sequoia Capital, along with participation from Index Ventures and other investors. The company has been running trials with Fortune 500 companies and investment firms and is close to finalising paid contracts.
With the increasing demand for AI tools like OpenAI’s ChatGPT, users are looking for ways to protect their data and prevent threats from entering their systems. Apex aims to provide additional layers of security needed for enterprises to adopt AI. The company plans to use the new funds to accelerate product development, hire workers, and expand marketing efforts.
Israeli cyber security industry is a global leader with hundreds of startups. Apex co-founders, Matan Derman and Tomer Avni, who served as officers in the Israeli military’s elite 8200 intelligence unit, founded the company. The need for AI security is becoming more urgent as AI technology continues to evolve and become more prevalent in various industries, according to Avni.
AI is considered the next major shift in technology after personal computers, networks, and the cloud, each requiring added layers of security. With AI being everywhere, the importance of AI security is paramount. Apex aims to address these challenges and provide solutions for enterprises looking to leverage AI technology while keeping their data secure.
