Armorway, an AI platform and data analytics startup, announced Tuesday that it had completed a round of seed funding to the tune of $2.5 million to further expand its AI platform for tackling information security threats.
According to a press release announcing the round, Armorway will use the capital to deliver “descriptive, diagnostic, predictive and prescriptive analytics with cognitive intelligence and deep machine learning to dynamically understand and respond to all types of security threats.”
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Additionally, the company will use the extra funding to expand its customer base and R&D team, as well as continue working on product development. Armorway CEO and co-founder Zareh Baghdasarian said that Armorway is focused on using AI and predictive analytics to find potential threats and respond before they become a problem.
“Security organizations of all kinds spend significant time and effort on incident response and investigation–both reactive processes which are inconsistent with the true definition of better safety and prevention,”
Armorway’s technology utilizes a variety of tools such as graph analysis, simulation, complex event processing, neural networks, recommendation engines, heuristics, and machine learning to help improve security.
Armorway offers two core products: Trust and Sentinel. Trust uses social behavior analytics, predictive analytics, and competitive analytics to determine potential insider threats within an organization.
Sentinel is focused more on physical security for law enforcement professional and campus security. It analyzes data such as “past criminal activity, incident reports, social media, class and event schedules, CCTV, etc.” to help law enforcement develop a proactive response and potentially prevent crimes instead of responding to them.
Using AI in the cybersecurity realm has exploded recently with MIT and IBM Watson both joining the fray of seeking to predict internet crimes before they happen. Using predictive technology for physical crime has also begun to gain traction, with the LAPD’s PredPol software gaining national acclaim as a means for predicting crime. However, it has also raised some concerns about the ethical concerns the technology presents. In the post-Snowden age, questions about privacy and surveillance are paramount, and some people may not be comfortable with algorithms predicting who might commit a crime.
Armorway was founded in 2013 and is based in Venice, California. The company’s technology was developed with grants from the Department of Homeland Security, the Department of Defense, and the US Army Research Office. The Department of Defense and the Department of Homeland Security are both customers.
For this latest round of fundraising, though, Armorway received investments from Aristos Ventures, private angel investors, and a slew of other founders and entrepreneurs.
The 3 big takeaways for TechRepublic readers
- Armorway recently raised $2.5 million to continue working on its AI security products for preventing cybercrime and physical crime.
- Armorway is focused on using AI and predictive analytics to identify cyber security threats and mitigate risk before an event occurs.
- AI integration into security products is growing and is help prevent some crime, but it is also bringing with it ethical concerns about its use to identify potential criminals.