Jericho Security, an artificial intelligence cybersecurity startup founded earlier this year, announced that it has secured $3m in funding.
The company specialises in combating the growing menace of AI-powered phishing attacks through sophisticated simulations and education content for employees.
The pre-seed round was led by Era, and included investment from Lux Capital LP, FoundersXFund LLC, MetaLabs Inc, Alcove Inc., Textbook LLC, Alumni Venture Group, Thorntree Capital Partners LP, and Contrary Capital LLC.
Jericho Security focuses on aiding enterprises in defence against social engineering phishing attacks by using AI to create sophisticated simulations and educational materials. In essence, it “uses AI to fight AI”, acting as a white hat for organisations. The startup acknowledges that the recent surge of generative AI technologies creates an unprecedented threat, enabling the creation of personalized social engineering phishing attacks at scale.
Since the launch of OpenAI LP’s ChatGPT last year, AI-generated attacks are reported to have tripled and their sophistication continues to escalate. While the attack landscape advances, many firms have failed to update their cybersecurity strategy, making them more susceptible. Jericho’s platform deploys advanced language processing, privately hosted language models, and brokered data to train employees through realistic simulations, personalised to users and providing organisations with essential metrics and feedback.
Jericho Security CEO Sage Wohns said, “Corporate cybersecurity solutions are antiquated and have become virtually obsolete overnight due to the magnitude, personalisation and adaptive attacks from generative AI. Too often, companies only take proper cybersecurity action when it’s too late, following reputational harm and potential litigation.”
He further added, “We believe in proactive cybersecurity, empowering organisations to prevent attacks rather than reacting to breaches. Jericho equips companies and their employees with the tools and skills to identify and halt generative attacks effectively.”