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Funding

Cybersecurity startup Nullify locks in $5.2 million Seed round for US launch

- March 7, 2024 2 MIN READ
Nullify cofounders Tim Thacker, Shan Kulkarni and Tony Mao
Nullify cofounders Tim Thacker, Shan Kulkarni and Tony Mao
Cybersecurity startup Nullify, which uses artificial intelligence (AI) to help software developers and security teams detect and fix potential vulnerabilities in code as it’s being written, has raised US$3.41 million (A$5.2m) in Seed capital.

The round was co-led by US VCs Two Sigma Ventures and Root Ventures ahead of the startup’s plans to launch in the States in June. 

Nullify’s AI acts like a security engineer, so companies can build more secure software without having to increase their security team. 

Nullify cofounder and CEO Shan Kulkarni said software engineers outnumber security engineers in enterprises 100 to 1, and enterprise security teams struggle to keep up with the speed that software is being delivered.

”Security teams are constantly having to do more with less resources as the threat landscape evolves at a rapid pace,” he said.

“By augmenting security engineers and doing tasks that previously had to be done by humans, Nullify can help blue teams to evolve their defences and fix weaknesses in their software development lifecycle at a rate faster than attackers are able to exploit.”

Kulkarni said they want to take Nullify beyond a “copilot” model, and train it to operate as an instantiated human resource unit of an organisation’s security team.

“Nullify won’t just scan and create security alerts, it will correlate and enrich disconnected security data, planning and executing these decisions autonomously as a real security team would,” he said.

“Processes like detecting, prioritising, fixing and explaining security vulnerabilities in software have long been manual and inefficient, today we can adapt self-consistent agentic AI architectures that can contextualise complex security data to automate these processes.” 

The startup took part in the inaugural accelerator for AI startups “Embed”, developed by Sarah Guo’s Conviction Partners, in San Francisco last year.

Nullify previously raised $1.1 million in a pre-Seed round in mid 2023, led by OIF Ventures.

Other angel investors in the Seed raise include Ely Kahn, VP of Product at SentinelOne, and Pascal Boilatt, a former CIO at CBA and Deutsche Bank, as well as existing backer Black Nova.

Nullify’s US launch is planned for NY Tech Week in June.

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