System Two Security Raises $7M to Combat GenAI-Powered Cyberattacks with AI-Driven Detection Engineering

System Two Security Raises $7 Million to Take on GenAI Powered Attacks

PALO ALTO, Calif., Dec. 04, 2024 (GLOBE NEWSWIRE) -- System Two Security, a cybersecurity startup built on an AI agent foundation that advances Detection Engineering, announced it raised $7 million in funding led by Costanoa Ventures, with participation from security-focused investor Runtime Ventures, as well as The Hive and Webb Investment Network. The round was also joined by individual investors including technology veterans Scott McNealy (former CEO of Sun Microsystems), Frederic Kerrest (CoFounder of Okta) and Ash Devata (CEO of GreyNoise), among others. System Two aims to help security teams deal with advances in attack sophistication and frequency due to GenAI adoption by attackers. A recent Bugcrowd survey of 1,300 hackers revealed 77% are using GenAI solutions in their hacking tools. The survey also found a more than 3x increase in those same individuals compared to a year ago reporting that GenAI enhances their effectiveness. As more attackers adopt GenAI to increase the speed and sophistication of their attacks, security teams defending organizations need to do the same in detecting them. Today, creating effective detections for an enterprise is typically a manual process that can take skilled security teams days. System Two applies GenAI to make the detection process ongoing, adaptive and automatic. Early design partners have seen up to 10x time-savings in analyzing new threats and identifying novel attacks against them, including GenAI-focused LLMJacking compromises. System Two creates specific GenAI models and agents trained on detection and security data. Its purpose-built models, coupled with role-based agents, enable System Two to outperform human counterparts in speed and accuracy. This enables detection engineers to work faster and more effectively, automatically generating actionable detections from gaps in minutes. System Two is designed to work across every major enterprise security system, including Splunk, Microsoft Sentinel, CrowdStrike's Next-Gen SIEM, and others. "The bad guys have new weapons-and the good guys need to use them to keep up. System Two gives our customers the tools to outpace and ward off attacks using GenAI by harnessing the same tech for its benefits - speed, accuracy and adaptive learning," said Robert Fly, CEO of System Two Security. "We've got an extraordinary team with incredible investors that will help us do this with the urgency the industry needs." "Threat detection today is broken-and AI is massively increasing the volume of threats teams need to manage," said John Cowgill, General Partner at Costanoa Ventures. "System Two is rebuilding detection from the ground up to meet today's challenges, and enabling SOC's to translate existing detections into new systems of record. By automating tedious work of writing detections and ensuring every detection is actionable, they're helping SOCs operate faster, smarter and with far less friction." This strategic investment positions System Two to redefine detection engineering and bring customers the tools they need to keep their organizations secure by fighting AI with AI tuned for them. The company plans to use the funds to scale its team and accelerate product development. System Two is actively seeking design partners to help tip the scales on how defenders detect adversaries. Companies interested in a major boost in detection creation and management should contact [email protected]. About System Two Security: System Two Security is bringing a new level of AI innovation to detection teams facing an increasingly complex threat landscape. The company was founded in 2023 by tech and cybersecurity experts CEO Robert Fly, Former CEO of Elevate Security, and CTO Prasanth Ganesan, former Symantec executive. For more information, please visit www.systemtwosecurity.com. Contact: Angela Petersen, [email protected] Market News and Data brought to you by Benzinga APIs

System Two Security raises $7M to automate detection engineering with AI - SiliconANGLE

System Two Security raises $7M to automate detection engineering with AI System Two Security Inc., a startup helping companies detect cyberattacks more efficiently, today announced that it has raised $7 million in funding. Costanoa Ventures led the round. It was joined by Runtime Ventures, The Hive, Webb Investment Network and several angel investors. System Two was launched last year by Chief Executive Officer Robert Fly and Chief Technology Officer Prasanth Ganesan. Fry previously co-founded Elevate Security Inc., a venture-backed cybersecurity startup that Mimecast Inc. acquired in January. Ganesan is a former Symantec Corp. executive. System Two offers a software platform that uses artificial intelligence to automate detection engineering. That's the process of developing detections, code snippets tasked with spotting malicious activity in a company's network. System Two says that its AI can in some cases create such scripts both faster and more accurately than humans. Building a detection is a multistep process. First, developers have to identify the data source that the script should use to find threats. A detection tasked with spotting malicious network traffic, for example, may need to analyze network traffic logs from the company firewall. After connecting a data source, software teams must specify the breach indicators that the script should search for in the collected information. Developers' work is further complicated by the fact that detections have to be updated over time. When hackers change their tactics, a company must adapt its detections accordingly. Code changes are also necessary if a detection accidentally flags routine user activity as malicious. System Two's platform is designed to ease the workflow. According to the company, the platform is powered by AI models trained on cybersecurity datasets. Developers can upload technical information about a threat and have System Two's AI models automatically generate a detection capable of spotting it. The platform speeds up the task of creating detections for new malware strands. It's also capable of generating more general-purpose scripts that monitor for breach tactics rather than specific files. A company could, for example, create a detection that spots malicious attempts to log into cloud applications. In addition to generating new detections, System Two promises to help customers more easily maintain their existing ones. Organizations occasionally replace the cybersecurity products that protect their infrastructure. When that happens, detections have to be moved over to the new product, which sometimes requires rewriting them in a new programming language. System Two says its platform can automatically translate detections into SIGMA, YARA, Python and other syntaxes commonly used for cybersecurity tasks. The platform also identifies technical issues in a company's detections. It can, for example, point out if a detection fails to spot certain types of malware or overlaps with another script, which can cause technical issues.