SplxAI raises €6.45 million backed by Bulgaria-based LAUNCHub

SplxAI, a cybersecurity company specializing in agentic AI systems, has successfully raised €6.45 million in seed funding, Azernews reports, citing Intelli News.

The funding round was led by LAUNCHub Ventures, with participation from Rain Capital, Inovo, Runtime Ventures, DNV Ventures, and South Central Ventures
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This investment will be used to accelerate the development of SplxAI’s platform, which provides automated security testing, remediation, and monitoring for AI agents and applications.

As organizations increasingly adopt advanced AI systems, new and often poorly understood security risks are emerging. SplxAI’s platform helps address these vulnerabilities by simulating potential attack scenarios and analyzing AI behavior across various types of agents, including text-based, image-based, and voice-based. Additionally, the platform offers continuous real-time monitoring to detect and respond to threats swiftly.

Stan Sirakov of LAUNCHub Ventures has joined the company’s board, while Sandy Dunn, the former Chief Information Security Officer (CISO) at Brand Engagement Network, has been appointed as SplxAI’s new CISO. Dunn will lead the company's governance and compliance efforts, strengthening its focus on security standards.

SplxAI launched its platform in August 2024 and has already reported an impressive 127% quarter-on-quarter growth. Its clients include notable names such as KPMG, Infobip, Brand Engagement Network, and Glean. The company has also released an open-source tool called Agentic Radar, which is designed to identify security gaps in AI agent workflows through static code analysis.

The platform is positioned as a more efficient and scalable alternative to traditional manual security testing, which tends to be slower, more expensive, and less adaptable to the rapid advancements in AI technology.

LAUNCHub Ventures, based in Sofia, is a venture capital firm known for its investments across Central, Eastern, and Southeastern Europe, with a focus on countries like Bulgaria and Croatia.

As AI systems become more integrated into critical business functions, the need for specialized cybersecurity solutions becomes more urgent. SplxAI is tapping into this growing demand by focusing specifically on the vulnerabilities that arise from agentic AI—AI systems capable of acting autonomously and making decisions based on their environment.