Senseon, the next generation AI platform for cyber defence, has completed a seed funding round of $6.4m.
Leading the investment is research-led venture capital fund MMC Ventures, alongside Mark Weatherford, former deputy under secretary for cybersecurity at the US Department of Homeland Security. Additional investors include Amadeus Capital Partners, Crane Venture Partners and CyLon.
The funding will allow Senseon to continue its expansion in the UK and increase its presence in EMEA and the US.
Founded in 2017 by David Atkinson, Senseon empowers businesses to keep pace with the increase of emerging cyber attacks. Atkinson’s extensive expertise in cyber security, both for enterprises and at a national level, inspired him to create the ‘AI Triangulation’ system at the heart of the Senseon platform.
AI Triangulation ensures complete visibility across organisations’ entire digital estates and provides context to automatically determine genuine cyber threats in the noise of busy networks. The Senseon platform learns and adapts to organisations’ environments and provides threat detection that reduces false positive alerts. Senseon says the average organisation wastes 425 hours a week investigating false alerts, costing them $1.37m per year.
Founder and CEO of Senseon, David Atkinson, said: “Cyber attacks are one of the greatest concerns for the modern business. Organisations’ networks are becoming increasingly complex and accelerated tech adoption creates additional noise for attackers to hide within.
“Meanwhile, attacker innovation is growing, and their techniques evade current cyber defence tools which are unable to differentiate between genuinely malicious threats and merely new or unusual activity.
“The intelligence behind the Senseon product, and its ability to automatically detect and investigate threats across the entire organisation, is reducing the burden placed on already-stretched security teams and freeing up resources to focus on what matters: investigating actual threats.”
Mina Samaan, MMC Ventures, said: “Cyber security continues to be the number one priority for technology deployments by CIOs. Organisations of all sizes need to get better at keeping pace with emerging threats, but more importantly, identifying the attacks that require intervention. Senseon’s technology directly addresses this challenge by using reinforcement learning AI techniques to help over-burdened security teams better understand anomalous behaviour through a single holistic platform.”