Tibo, an innovative cybersecurity startup aiming to prevent data leaks when corporates use artificial intelligence (AI), has completed a successful Pre-A funding round.
The latest funding round was led by Oak Seed Ventures, signalling strong investor confidence in Tibo’s mission to safeguard sensitive corporate information in the AI era.
Tibo develops tools that allow companies to protect their data while still enabling employees to utilise AI tools at work. The rising prevalence of AI and Large Language Models (LLMs), such as OpenAI’s ChatGPT, poses a potential risk of corporate data leakage. Tibo addresses this risk without resorting to the all-or-nothing approach of banning all AI tools, a move which can significantly hamper productivity.
The funds raised will be used to aggressively roll out its solution to customers and further develop its technology. Tibo’s solution tackles the ‘shadow IT’ problem by preventing leakage at the user end-point, without compromising user experience.
Tibo’s WASM-based browser extension can detect sensitive content in user entries and automatically redact or replace it with synthetic data. This process prevents leakage of confidential information whilst maintaining user experience and the accuracy of the prompts. Tibo also provides detailed audit logs on all data shared with AI tools. This visibility offers full transparency to CISOs on who is sharing what data, with whom, and under what terms of service.
Tibo CEO, Peng Zhao, said, “We don’t want to be just a secure proxy to ChatGPT or another service. Tibo is the watchful guardian to any app. You may use whatever tool you want, in whatever way you like. Tibo will be the silent protector to make sure no sensitive data leaked.” Furthermore, Oak Seed Ventures partner, Chee We Ng, expressed his excitement in partnering with Tibo as they continue to develop innovative solutions for data security in the AI industry.
This recent investment is a significant milestone for Tibo as they continue to establish themselves as a leader in the AI security market. With the backing of its investors, the company is poised to drive innovation and improve data security for companies using AI.
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