Nexos.ai: Bridging the AI Adoption Gap for Enterprises
For most enterprise companies, AI is either a promise that has yet to deliver or a security risk. The effort of Lithuania’s most famous entrepreneur duo to solve that conundrum has garnered attention — and funding.
Just months after Nexos.ai emerged from stealth mode with an $8 million funding round led by Index Ventures, the co-founders of Nord Security, Tomas Okmanas and Eimantas Sabaliauskas, have successfully closed a €30 million Series A round (approximately $35 million) for this innovative startup. Nexos.ai is a platform designed to facilitate the secure adoption of AI tools by acting as a middleman between employees and AI systems.
Addressing Corporate Data Leaks
According to Okmanas, “the biggest corporate data leak” is currently in the making, as employees upload sensitive information to Large Language Models (LLMs). Instead of prohibiting AI usage, Nexos.ai aims to position itself as a “Switzerland for LLMs,” serving as a neutral intermediary. The platform strives to maintain data control while preserving the productivity enhancements that companies desire but often fear when using AI technologies.
Rapid Growth and Significant Backing
This rapid growth and backing can be attributed to the seasoned founders tackling this crucial enterprise problem. Nexos.ai raised its recent funding round at a €300 million valuation (approximately $350 million), co-led by Index Ventures and Evantic Capital. Previous investors include Creandum and Dig Ventures, alongside notable angel investors such as the CEOs of Datadog, Klarna, Supercell, and Wix.
Evantic, a new venture firm founded by former Sequoia Capital partner Matt Miller, played a crucial role in this funding round, even though Nexos.ai wasn’t initially seeking investment, according to Okmanas. Okmanas and Sabaliauskas have a history of bootstrapping successful ventures, including the renowned NordVPN. However, they now recognize the advantages that venture capital can provide.
Product Development and Innovative Features
Currently, Nexos.ai’s product consists of an AI Workspace interface for employees and an AI Gateway for developers. The gateway functions as a control layer for security, cost management, and compliance oversight, tackling fragmentation—a significant barrier to AI adoption—head-on. It provides a single access point to approximately 200 AI models, with plans to expand support for private models handling sensitive data.
While the team conducts 50 to 60 demo calls weekly, Okmanas anticipates that many traditional businesses will face challenges in justifying AI adoption to their boards. Nexos.ai aims to simplify deployment. Initially, the focus is on tech-savvy companies already using AI, as well as organizations in regulated industries with heightened governance concerns regarding data privacy.
Identifying Governance Gaps
Okmanas and Sabaliauskas pinpointed the AI governance gap while overseeing their company, Tesonet, which builds and invests in startups. Tesonet portfolio companies, including Bulgarian fintech unicorn Payhawk, are among the initial customers disclosing their partnership with Nexos.ai. This funding will facilitate the company’s expansion across Europe and North America.
Pushing for Broader AI Adoption
Okmanas is determined to dismantle barriers to widespread AI adoption. While corporate boards deliberate on the tangible value of AI, he highlights the positive results within Tesonet’s own portfolio. For instance, at Hostinger, a web hosting service, the implementation of an AI assistant has significantly reduced the need for human customer support, saving the company €10 million this year alone.
Despite mentioning these impressive figures, Okmanas refrained from disclosing specific revenue statistics for Nexos.ai. The company plans to expand its team to 100 staff members by its first anniversary, primarily focusing on Europe, where concerns over data sovereignty are opening doors in public institutions, potentially broadening its market reach beyond traditional enterprises.
To explore further about Nexos.ai and its innovative approach to enhancing AI adoption securely, you can read more here.
Image Credit: techcrunch.com
