When it comes to AI software, you can build something smart, but it's not always the same as building something secure. With so many software written by AI now, having a window into security can be a challenge. This is the premise of Archipelo, a San Francisco-based cybersecurity startup, which today emerges from stealth with $12 million in funding.
The pitch of Archipelo is that it has a platform for what is called “Developer Security Astute Management” (DEVSPM).
“We discovered there was no developer security attitude tools, and that's what we built,” said Matthew Wise, CEO and co-founder of Archipelo. “What we found is that every company has this problem. You can have a Fortune 500 bank that understands productivity gains when developers use AI for coding, and they understand the risks too. But they don't have a solution that allows them to observe and monitor all instances of AI coding use. [to identify that risk]. ”
Human error is estimated to be the cause of more than 74% of security breaches (Verizon DBIR 2023). However, using AI-generated code makes the issue very complicated. Archipelo's platform aims to proactively protect both human and AI-driven code writing before security vulnerabilities reach production.
The funds that Archipelo will use to expand its product and address the market include both an unannounced $4 million pre-seed and a $8 million seed round led by Dell Technologies Capital. Competitors in the archipelago of “cloud to code security” space include Palo Alto Networks (Prisma Cloud), Wiz, MSFT (Defender), Github, Gitlab, Snyk, CheckMarx, and Veracode. Veracode has raised $114.3 million so far, according to CrunchBase.
However, Archipelo claims it stands apart from the above as developers place developers under the microscope to monitor software risk before an incident occurs. And, in argipelo's view, developers can be human or AI agents or AI coding tools. Other companies are still developing capabilities to cover AI Gents and AI coding tools during development.
Wise added: “This is not a Dell strategic round. It's a standard VC seed round. Dell is not a customer (still).” Customers have Fortune 500 enterprise customers included in banking, healthcare and defense, but Wise said it's still impossible to disclose their names as they're in the middle of deployment.
Also participating in the round were Zoom CEOs Eric Ewan, Andy Bettlesheim, Bill Ty, David Weissbird (10X Capital), Gil Paintkina, Ed Roma (Hak VC), Anima Anandkumar, Samsung Next and Nima Capital.