Reken Secures $10M in Seed Funding to Combat Generative AI Threats
San Francisco-based AI and cybersecurity company, Reken, has successfully raised $10 million in a Seed funding round. The round was led by Greycroft and FPV Ventures, and saw participation from Firebolt Ventures, Fika Ventures, Omega Venture Partners, Homebrew, and JAZZ Venture Partners. Notable investors in the round include Jon Steinback, an executive at Google DeepMind, and Vishal Vasishth, co-founder of Obvious Ventures. Marcie Vu, partner at Greycroft and former key player in Google’s IPO, has joined Reken’s board.
Reken, founded in January by Shuman Ghosemajumder and Rich Griffiths, aims to develop AI products and platforms to combat generative AI threats. The company plans to utilize the funding to further its core research and development efforts in building new AI technology and products to protect against deepfake social engineering and autonomous fraud, among other generative AI threats. According to Vu, safeguarding against such threats is crucial for the future of the internet.
Ghosemajumder and Griffiths bring extensive experience to Reken, having worked on building Shape Security, a leading AI bot defense platform that was acquired by F5 for $1 billion in 2020. Their expertise in building large-scale AI platforms to defend against sophisticated attacks positions them well to tackle the evolving challenges presented by generative AI threats.
Greycroft, a renowned venture capital firm, focuses on partnering with entrepreneurs working towards building category-defining companies in areas such as intelligent consumer and enterprise applications, AI infrastructure, sustainability, and consumer products. With over $3 billion in capital raised, the firm is able to invest in software businesses that leverage advancements in artificial intelligence.
FPV Ventures, founded by Wesley Chan and Pegah Ebrahimi, is a new $450 million fund that supports mission-driven founders throughout their entrepreneurial journey. The firm has previously invested in well-known, high-impact startups.
Reken’s latest funding round will undoubtedly bolster its efforts to develop innovative AI solutions and defend against the rising threat of generative AI attacks, which are expected to increase in frequency and complexity in the future.
Analyst comment
Positive news:
Reken securing $10 million in Seed funding with notable investors and experienced founders will strengthen their development of AI solutions to combat generative AI threats. This funding will enable them to further research and build new technology, which is crucial for safeguarding against deepfake social engineering and autonomous fraud. The market is expected to respond positively to this investment, as it positions Reken well to tackle the evolving challenges of generative AI threats.
