April 25, 2024 at 11:58AM
French startup BforeAI secured $15 million in Series A funding, totaling over $19 million. SYN Ventures led the investment round, with involvement from Addendum Capital, Karista, Karma Ventures, and the Partnership Fund for New York City. The company, utilizing AI and ML, offers predictive attack intelligence and automated digital risk protection. BforeAI’s solution aids organizations in multiple sectors to predict, prevent, and stop online fraud and cyberattacks, with prominent clients already utilizing their platform. CEO Luigi Lenguito highlighted the increasing digital threats and emphasized the need for a proactive defense strategy.
Key Takeaways from Meeting Notes:
– BforeAI, a French startup, recently secured $15 million in Series A funding, bringing its total raised amount to over $19 million.
– SYN Ventures led the investment round, with participation from Addendum Capital, Karista, Karma Ventures, and the Partnership Fund for New York City.
– The company, established in 2020 and based in Montpellier, utilizes AI and ML to deliver predictive attack intelligence and automated digital risk protection.
– BforeAI’s solution is designed to monitor the majority of the internet, allowing for the establishment of a baseline for anomaly detection and proactive prevention of cyber threats and attacks.
– The company’s technology can be valuable for organizations in the financial, manufacturing, and retail sectors, aiding in the prediction and prevention of brand abuse, ransomware attacks, and other forms of cyber threats.
– BforeAI emphasizes its capability to autonomously map and predict malicious infrastructure, providing preemptive defense for customers’ data, digital assets, users, and IT and OT networks.
– Notable users of BforeAI’s predictive solution include major social media platforms, financial organizations, and global manufacturers operating in the medical device, food services, and home electronics sectors.
– Luigi Lenguito, the founder and CEO of BforeAI, highlighted that the company is actively stopping thousands of attacks daily and that the funding will enhance their ability to serve advanced customers and create value in a competitive market. He emphasized the importance of proactive security measures in light of increasing digital fraud, scams, and cyberattacks.