Siscale AI, the company whose headquarters are in America and the IT specialists live in Romania, targets €800K in funding. Out of this sum, 650K is available for investors on SeedBlink beginning with the 26th of April and 150K will be invested by the company’s founders. The team wants to use this opportunity to research, develop, and market their automation product, as they are being validated for a patent that collects feedback for AI training.
The startup’s financing is structured as a SAFE (Simple Agreement for Future Equity) with a maximum valuation of over €7M and a discount of 25% to be applied to a future equity round.
“Arcanna.ai, the product developed by Siscale, transforms complex processes, by saving time and money without sacrificing quality. Listing to the SeedBlink Club is an agile move on the road to the Serie A round”, shares Andrei Dudoiu, co-founder and CEO of SeedBlink.
Automated cybersecurity solutions
Siscale is a startup developed in 2015 in New York by Petrica Ruta, a Romanian with over two decades of IT expertise. In the following years, he was joined by Bogdan Perian, Calin Cornigeanu, Cristian Ruta, Bogdan Sass, Bob Dimicco, and Andreas Enotiadis to launch the product Arcanna.ai. The members have taken part in acceleration programs, like Innovation Labs and Advancing AI.
“We launched Arcanna.ai because of our experience in the area of cybersecurity, but especially as a result of the problems that our customers encountered. These two elements have led us to the idea that a new approach is needed,” shared Petrica Ruta, CEO and co-founder of Siscale AI.
As the company explains, security teams are overwhelmed with the high volume of alerts which keeps on growing. Triaging is one of the biggest problems in IT and cybersecurity, which can leave threats unnoticed. Many alerts are false positives, leading to wasted time and delaying solutions.
Arcanna.ai was created with cybersecurity, data science, software development, and integration in mind. This product aids specialists in sorting alerts and automating processes, like collecting threat intelligence information, ticket creation, or the deduplication of alerts.
The project’s innovation consists of deep learning, using natural language processing or NLP, process automation with additional security tools, like Security Orchestration Automation and Response or SOAR, and user feedback without coding knowledge. In time, Arcanna.ai can become a virtual member of the security team, enabling experts to dedicate more time to higher-value activities.
The 2021 target is to launch the software as a service and to sign a deal with 100 customers in Europe and America. Among Siscale’s clients are Orange Romania and Summit Health, one of the largest providers of medical services in New York, and among their tech partners are Elasticsearch, Google, PaloAlto, and Cisco.