Exclusive: Prompt Security raises $18 million to help companies better secure generative AI tools like ChatGPT

Lior Drihem, CTO and Itamar Golan, CEO, Prompt Security

Itamar Golan has always been fascinated by the intersection of cyber security and AI. While in the Israel Defense Forces, he became interested in how to build better security systems using AI. Later, he focused on building security software at Checkpoint and Orka Security. His latest venture, Prompt Security, is helping companies manage the cybersecurity risks associated with generative AI tools like OpenAI’s ChatGPT or Google’s Gemini.

Founded in 2023, Prompt has raised $18 million in fresh funding, B-17 has learned exclusively. The round was led by Jump Capital, with participation from Hetz Ventures, Ridge Ventures, and tech companies Okta and F5. The startup previously raised $6 million in seed funding.

Almost 30% of companies deploying AI had an AI security breach in 2023, according to a Gartner survey. “AI is the biggest attack surface we’ve seen since the cloud,” said Golan.

Golan explains that as employees use generative AI tools like chatbots, new threats emerge with data, intellectual property, and more. Prompt Security’s software will show any interaction between an enterprise employee and a generative AI tool like ChatGPT.

Since emerging from stealth this past January, Prompt Security counts a number of Fortune 500 companies among its customer base. Customers using the startup’s software include The New York Times and New Relic. Golan shared that the company is finishing the year with $1 million in annual revenue.

Competitors include the big players in cybersecurity, such as Palo Alto Networks and Crowdstrike, but Golan says that these companies’ products were not specifically developed to focus exclusively on AI.

“If we believe in the growth and expansion of LLMs, security should grow as an inherent part of it,” said Golan. “Any respectable company should be aware of security risks in AI, and the market is ready.”