Vendict Automates Security Compliance with Generative AI, Secures $9.5M in Funding
– Vendict, an Israeli startup, has emerged from stealth with $9.5 million in funding led by NFX, Disruptive AI, and Cardumen Capital, with participation from NewFund Capital, Tuesday Capital, Cyber Club London, and Andy Ellis.
– The company aims to streamline security compliance assessment by automating the process of filling out questionnaires using generative AI-powered answers based on a vendor's own data.
– Vendict's approach involves combining its own large language model (LLM) with other leading models, including Microsoft Azure rephrasing LLM, to create an AI model that excels in security language and shortens security assessments from weeks to hours.
– The AI model continuously improves efficiency with user interactions and plays a transformative role in transforming security questionnaires and driving automation in compliance tasks.
– Vendict extracts data from an organization's existing compliance information and utilizes its generative AI stack to provide professional and accurate responses to each question in a given questionnaire.
– In addition to aiding in internal risk management, Vendict offers internal audits, regulation tracking, and a centralized knowledge base for compliance documentation.
– Organizations can conduct swift end-to-end assessments based on industry, service criticality, and data sensitivity level, and Vendict guides businesses in improving their security compliance stance, enabling them to explore new markets.
– Raul Zayat Galante, head of security at Orca Security, has praised Vendict's transformative power in significantly reducing the time spent on RFIs and security questionnaire responses.
– Vendict plans to generate security assessment reports for buyers based on sellers' documents and the criticality of the vendor.
Vendict aims to lead a paradigm shift in how security compliance is approached, making it less burdensome and more accessible.