RevEng.ai, a cutting-edge start-up building foundation AI models for identifying security threats and vulnerabilities in software, is thrilled to announce the successful completion of its $4.15 million seed funding round. This milestone investment underscores the company’s mission to build AI for identifying unsafe code embedded inside software supply chains without needing access to source code.
The funding round was led by Sands Capital, with participation from In-Q-Tel Capital, IQ Capital, and Episode 1. These funds will enable RevEng.ai to accelerate its growth, enhance its proprietary AI models, and expand its team to meet the growing demand for proactive cybersecurity solutions, and increase its offering in the U.S.
Our goal at RevEng.ai is to simplify and automate the analysis of released software. Our platform helps security engineers and malware analysts identify malicious components to verify the integrity of software supply chains without needing access to source code.
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Cybercrime costs organizations $11.9 trillion annually and the average cost of a ransomware attack stands at $5.45 million. It’s a huge problem that is growing 150% year-on-year. One of the reasons why attacks are getting through is because identifying weaknesses or malicious content in software used by organizations after it has been created is exceptionally difficult. Today, 45% of organizations worldwide are expected to experience a software supply chain attack. The level of attacks is intensifying, and they are being driven by increased AI-generated code, open‑source dependencies, and weak visibility in third-party components.
Currently, analyzing software in everyday applications from phone apps or desktop programs is exceptionally difficult if the owner does not have access to the source code. Verifying that programs running on your device do not contain any malicious code or perform unwanted actions is an extraordinarily difficult problem to solve, and impossible to do at scale. RevEng.ai looks to change this by creating a platform leveraging proprietary AI models to automatically analyze and deconstruct software for improved security, compliance, and development efficiency. Their AI Binary Analysis Platform uses AI to automatically identify hidden backdoors, malicious code, and zero-day vulnerabilities in any piece of software.
“Our goal at RevEng.ai is to simplify and automate the analysis of released software. Our platform helps security engineers and malware analysts identify malicious components to verify the integrity of software supply chains without needing access to source code,” said James Patrick-Evans, CEO and Founder of RevEng.ai. “This investment gives us the capital needed to develop the world’s first foundation AI models specifically targeted to analyzing software packages”.
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As a graduate of the NCSC for Startups program, RevEng.ai benefitted from invaluable support from the UK’s National Cyber Security Centre. The program provided a strong signal from the UK and US Governments to the importance of building ground-breaking AI for Cyber Security. The Company is also proud to have been part of the Intel Ignite 2024 cohort, where they gained access to key commercial partners and resources that accelerated its growth. Intel recognised the strong commercial benefits of bringing our AI powered software analysis platform to their internal teams and to wider commercial markets. Both programmes provided access to advanced resources for developing AI tools, empowering the Company to enhance its capabilities further and solidify its position as a leader in the AI Software Supply Chain space.
Sands Capital commented: “RevEng.ai is addressing a critical challenge in cybersecurity with its innovative approach. We are proud to support their vision and look forward to seeing their impact on complex problems in cyber.”
With this funding, along with the company’s graduation from the NCSC for Startups programme and continued work alongside US Government Federal agencies, RevEng.ai is poised to cement its position as a leader in AI for Cyber Security and continue to deliver groundbreaking technology solutions to its customers and partners.
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Source: prweb
