London-based Innerworks secured €3.7 million in a seed funding round, led by AlbionVC. This capital will expand Innerworks' AI-powered fraud detection platform.
Digital Currency Group and Founders Capital also participated.
Innerworks pioneers Synthetic Threat Intelligence, offering robust AI fraud defense. The platform identifies AI-generated synthetic interactions with 97% accuracy. Bot-related attacks caused €184 billion in losses during 2024. Deepfake fraud also increased over 2,000% since 2022. Innerworks' RedTeam program enlists ethical hackers and AI agents. This stress-tests the system, providing dynamic real-world data.
Advancing AI Fraud Defense
Innerworks' technology has defended national infrastructure. It also partnered with leading digital asset platforms. The system detected malicious activity linked to a €1.38 billion hack, demonstrating its effective AI fraud defense. This seed funding will support platform expansion, especially in adversarial artificial intelligence training.
The company aims to accelerate its global reach and establish new partnerships. Competitors like Palo Alto Networks and CrowdStrike operate in related security domains.