Pluto Security has raised $42 million in total funding to tackle risks from employee-built AI tools.
Co-founded by CEO Shahar Bahat, the platform reports that roughly 60% of risks stem from non-developers, with finance teams leading departments in unsanctioned tool creation.
Discover more insights from their enterprise platform.
According to Shahar Bahat, the company’s CEO and co-founder, new AI tools can be deployed within an organization within two hours of their launch. About 60% of the risks the company sees come from apps built by employees who are not developers. The finance department is the main source of these risks, followed by marketing and legal departments, with developers coming in last.
For example, the company's tools identified a customer application that had been created by a finance employee at a large company, but which had been left exposed on the internet.
Development and customers
Pluto Security began selling its software last April and has so far surpassed $2 million in annual recurring revenue. Its customers include over 30 businesses, including Oscar Health, Workato, Sixt and AlphaSense.
The company’s funding includes an initial $8,5 million round led by TLV Partners and a subsequent $34 million round led by Jump Capital, with participation from investors including Skinos and Ansa Capital. The company has a total of 40 employees in the United States and Israel.
Monitoring and free tools
Pluto's software monitors the AI tools employees use and the applications they create to identify risks. The company also launched a free platform called Plutonium in April that allows for risk assessment of public AI tools.
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