AI Security Platform Charm Emerges From Stealth With $8 Million In Seed Funding
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An AI-powered security platform Charm, which focuses on protecting various organizations and their customers from scammers, just emerged from stealth with $8 million in seed funding.
The company is using advanced emerging technologies to combat the effects and risks posed by scams, social engineering, as well as human-centric fraud. Commenting on the current market situation, Charm says that fraud tactics have seen a staggering evolution from simply system exploitation, now heading into the complex and sophisticated area of social engineering.
The idea is to make individuals the weakest link in system security, rather than tackling code and finding software-related exploits. This is why methods of protection from such attacks need to evolve as well, and Charm is now in a position to become one of the leaders in this new type of defense.
The company held a funding round that was led by a global venture creation company called Team8. Team8 already helped build Charm, alongside its founder’s cyber intelligence expert, Roy Zur, and the data scientist formerly associated with Microsoft, Avichai Ben.
How Will Charm Fight New Scam Methods?
Moving forward, Charm intends to tackle the evolution of scammers’ approach through the use of data analysis, AI, and psychological insights. This will allow it to assess human vulnerability exposure, analyze customer risk patterns, and come up with specific mitigation strategies for dealing with attackers and their own new methods.
This is where the $8 million received in funding will be crucial, and the company shared that it plans to use the money for staff recruitment, product development, and for forging strategic partnerships that would be useful for furthering its goals.
Roy Zur also commented on the matter, explaining that scammers are evolving at an unprecedented pace, as they now also rely on artificial intelligence to deceive customers. The new methods allow them to remain undetected by traditional fraud systems for longer, and by the time they can intervene, it may already be too late.
Zur noted that this is why Charm is on a mission to break the ‘scam spell’ by using AI-powered real-time interventions and psychological insights to protect users when they need help the most.
