Griptape Secures $12.5M to Boost AI App Development Safeguards

griptape secures 12 5m to boost ai app development safeguards.jpg Technology

In the rapidly evolving world of artificial intelligence, securing data is paramount. Enter Griptape, a startup founded by Amazon alumni, which recently raised $12.5 million in funding to help enterprises build and deploy secure AI applications. The company, still in its nascent stages, is developing an open-source Python framework and cloud platform that will allow companies to safely build large language models, including conversational, copilot, and autonomous agents. The primary aim of Griptape is to offer enterprises robust security controls, ensuring that the use of AI models such as OpenAI’s GPT or Anthropic’s Claude 2 does not compromise data security.

Kyle Roche, the startup’s co-founder and CEO, who spent more than eight years at Amazon Web Services (AWS) in various roles, confirmed the funding to GeekWire. Backed by venture firms such as Fuse, Acequia Capital, Crosslink Capital, Range Ventures, and Peterson Ventures, Griptape is set to commercially launch in October. Roche, who formerly led teams that built and ran AWS services including Amazon Location Service, Amazon Nimble Studio, Thinkbox, and others, brings significant industry experience to this venture. His co-founder, Vasily Vasinov, was previously a principal product manager at AWS, further strengthening the company’s leadership.


Griptape: Securing AI Applications with a Fresh Funding of $12.5M

Two former Amazon employees have successfully raised $12.5 million in funding for their startup, Griptape, that’s focused on enhancing the security of artificial intelligence (AI) applications. The startup aims to help enterprises prevent data leakage while deploying AI apps.

An Open-Source Solution for Secure AI Applications

Griptape, founded earlier this year, is working on an open-source Python framework and a cloud platform. This innovative startup is creating tools for enterprises to safely build large language models, such as conversational agents, copilot, and autonomous agents. The platform provides security controls for enterprises to use AI models like OpenAI’s GPT or Anthropic’s Claude 2 without compromising data security. Griptape is currently in private preview and plans to commercially launch in October.

The Funding and the Team

Details of the funding were revealed in a new SEC filing. The startup’s CEO, Kyle Roche, confirmed the funding details to GeekWire. The investment was backed by Fuse and Acequia Capital, both Seattle-based venture firms, Crosslink Capital, Range Ventures, and Peterson Ventures. As of now, the company has a team of 12 employees, according to Roche.

Roche, who has spent over eight years in various roles at Amazon Web Services (AWS), co-founded Griptape with Vasily Vasinov, who was a principal product manager at AWS. The team also includes Chief Product Officer Derek Pai and Chief Creative Officer Jason Schleifer, both former AWS employees.

Griptape: An Enterprise-Grade Alternative

While LangChain can also be used by engineers to build large language model apps, concerns about its readiness for enterprise use have been raised. Griptape positions itself as an "enterprise-grade alternative to LangChain," with customers including Torc, ThingLogix, and Zennify. Griptape was also included in the inaugural cohort of the AWS generative AI accelerator among 21 startups.

The Push for Secure AI Apps Development

Griptape aims to address a significant challenge in enterprise AI app development: data vulnerability. Ilana Stern, a general partner at Peterson Ventures, likened using large language models for enterprise apps without proper security to leaving your front door open during a home remodel.

Major tech companies like Microsoft, Amazon, and Google have been integrating large language models into their core business strategies. An IBM survey revealed that over 60% of enterprise CEOs are under significant pressure from stakeholders to speed up the adoption of generative AI.

Takeaways

Griptape’s funding round reflects the growing need for secure AI application development in the enterprise sector. As AI continues to evolve, ensuring data security becomes an imperative task. With its open-source Python framework and cloud platform, Griptape is on its way to providing a secure environment for AI applications, which could significantly impact the way businesses adopt and integrate AI into their existing systems.

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