In a groundbreaking move to fortify businesses against the surge of cyber threats, Paris-based cybersecurity startup Qevlar AI has raised an impressive €4.5 million in a seed round led by EQT Ventures. The funding, also backed by influential tech and AI angels, including Olivier Pomel (CEO of Datadog) and Florian Douetteau (CEO of Dataiku), propels Qevlar AI's mission to revolutionize security operations.
The digital landscape is witnessing an alarming rise in cyber-attacks, with a 38% year-on-year increase in 2022 alone. As businesses face unprecedented threats, the financial impact is becoming more significant. McKinsey estimates the cybersecurity market to be valued between $1.5 trillion and $2.0 trillion, driven by the sophistication of AI-enabled attacks.
Qevlar AI is at the forefront of the battle, armed with a generative AI solution designed to replace manual cybersecurity processes with intelligent automation. The heart of its innovation lies in the autonomous investigation API, enabling swift analysis of potential security incidents in under a minute. This proprietary technology creates security playbooks, continually enhancing defenses against evolving threats.
Traditional cybersecurity methods are struggling to keep up, with businesses relying on human detection methods facing overwhelming challenges. Qevlar AI's solution seamlessly integrates with existing security infrastructure, offering a 30% boost in security operations efficiency. The technology is a beacon of hope for enterprises grappling with complex security challenges.
“Organizations are confronting a rise in the complexity and number of attacks, amid a shortage of available human resources. Driven by fast-evolving technology, threat actors are leveraging machine learning to sophisticate phishing attempts and infiltrate systems deemed previously safe. Businesses need to react quickly, and Qevlar AI is here to help them do so smartly and efficiently.”
“We believe in the transformative power of AI in enhancing the capabilities of cybersecurity professionals and Security Operations Centers (SOCs). Qevlar AI’s innovative approach addresses the pressing challenges in SOC management, offering a promising solution to the long-standing quest for effective automation,” said Julien Hobeika, Partner at EQT Ventures.
The freshly secured funds will propel Qevlar AI to expand its team and invest further in its cutting-edge product. As cyber threats evolve, Qevlar AI remains committed to staying one step ahead, ensuring businesses can navigate the digital landscape securely and intelligently.