Australian-American Cybersecurity Start-ups Raising to Develop AI-Powered Cyber Defences
Recently the Australian-American cybersecurity start-up Harmony Intelligence announced it has raised $3 million in seed funding to accelerate the development of its defensive artificial intelligence (AI) technology.
Airtree Ventures led this round of funding with contributions from 30 investors, including Canva, Adept AI, Maxwell Capital and Plaid.
Improving AI-Driven Cybersecurity Solutions
Harmony Intelligence uses AI to automate and improve security measures for businesses and organisations across the globe.
The Australian-American cybersecurity start-up aims to counter cybercriminals that use AI to execute deepfake scams. These frauds succeed at an alarming rate.
Harmony has partnered with top AI research laboratories and government institutions to test systems for weaknesses against AI threats.
With this proactive approach, organisations are able to flag and eliminate threats before cybercriminals can do anything malicious.
Co-founders Soroush Pour and Alex Browne are experienced players, having met at Duke University before a stint with financial technology giant Plaid as one of their earliest workers.
Pour was the Head of Technology at Sydney-based startup Vow before taking his current position as the chief executive officer of Harmony. He is well-versed in tech innovation and has driven excellence at Harmony as they developed this unique approach to AI-focused cybersecurity.
Harmony has made an exciting breakthrough in their AI-automated penetration testing system, which constantly probes defences to find any weaknesses before hackers. This technology will allow companies to stay on top of potential threats.
Pour said: “We’re witnessing an unprecedented growth in AI-powered cyberattacks that can overwhelm traditional institutions and defences.
“Our mission is to level the playing field by developing AI-driven security solutions that anticipate and neutralise these threats before they cause harm.”
Harmony plans to broaden the scope of its operations in Australia and the United States, and will add more software engineers and security specialists to their workforce.
Implications for the iGaming Industry
Most modern organisations and industries need cybersecurity, but one that will be quick to adopt any new measure to ward off threats is the lucrative iGaming sector.
Online gaming companies in Australia and the US record plenty of financial transactions, and users have their sensitive data on these platforms, making them a popular target for cybercriminals.
Online betting companies are eager to stay one step ahead of data breaches and cyber threats, and AI attacks pose an additional headache.
The AI-automated penetration testing system could give betting platforms a new defensive mechanism that finds loopholes and patches them before cybercriminals can attack.
They will be able to flag potential deepfake scams and protect users while keeping operations compliant with the laws of the land.
The top 10 betting apps in Australia will be able to differentiate themselves from their competitors by employing these modern defensive tools on their platforms.
The AI security solution could even become a prerequisite for gaming companies as Australia and other jurisdictions tighten their iGaming regulations.
Cybersecurity in Professional Football
Given the links between betting and football, it is not unreasonable to think that the AI tech solution could be utilised by organisations in the world’s most popular sport.
Clubs, leagues and governing bodies hold large amounts of sensitive data including contracts, medical records, financial transactions and other confidential information.
Consequently, they are targets for ransomware attacks and phishing scams. Data breaches have become more regular, with cybercriminals looking to exploit openings in the online security infrastructure.
Cyber security can provide a dynamic security framework that is able to detect and neutralise threats immediately to give football clubs more protection.
Money is pouring into professional football, with multimillion-dollar sponsorships and broadcast deals at an all-time high across the world.
Clubs desperately need to fortify their online security, and the Harmony AI solution will help them foil breaches and keep data safe.
