Innerworks raises $4 Million to revolutionise internet security

Innerworks, the trailblazers in Synthetic Threat Intelligence, recently secured $4 million in seed funding to enhance their revolutionary approach in providing the most effective internet immune system. Led by AlbionVC, this investment round included substantial backing from Digital Currency Group, Founders Capital, Firestreak Ventures, NVTBL Ventures, and Metaversal Ventures. Prominent contributors also featured notable names such as Crypto.com (Cronos) and influential figures from major financial and tech firms.

Founded by the visionary trio of Oliver Quie (CEO), Oscar Hayek (CTO), and Tom Ryan (Chief Product Officer), Innerworks is leveraging their profound expertise in AI and decentralisation to tackle the rising risk of AI-powered fraud—a threat that easily circumvents traditional security solutions. Their impact is already notable in high-stakes sectors including banking and national infrastructure defence. A partnership with ZeroShadow has further cemented their standing, having led to the detection of activities linked to North Korean money launderers responsible for a $1.5bn cryptocurrency heist, the largest in history.

As the digital landscape evolves, the challenge of distinguishing between genuine human behaviour and AI-generated interactions is escalating. In 2024, bot-related attacks accounted for nearly $200 billion in losses, with automated interactions overtaking genuine human traffic online. This concerning trend reflects the urgent need for innovative solutions like those from Innerworks, which address this issue at its core.

Innerworks's technology stands out by delivering critical risk signals from thousands of real-time data points through seamless integration. Running invisibly behind apps and websites, their solutions ensure security without disrupting user experience. Their adoption is growing, especially among major payments and digital assets firms, including Crypto.com (Cronos) and ZeroShadow, who have adopted the platform for crucial investigations into recent cryptocurrency theft.

Central to their offering is RedTeam, a groundbreaking crypto-bounty platform designed for adversarial AI hacking. Empowering a global network of ethical hackers, RedTeam continuously identifies weaknesses, contributing to Innerworks's robust defensive capabilities.

"We're facing AI-powered deception that can mimic legitimate users with frightening accuracy," said Oliver Quie, CEO. "Existing security companies have become obsolete because they assume threats will behave differently than legitimate users. Our platform solves this problem using Synthetic Threat Intelligence and decentralised training to defend against even the most sophisticated AI-based attacks”. Quie continues, “Having now proven our approach alongside global brands, we feel Innerworks is well positioned to become core security infrastructure for the wider internet helping to protect user ecosystems online.

Innerworks aims to leverage the recent funding to accelerate product development, enhance the RedTeam ecosystem, and expand across global financial hubs. Key focuses include growing their adversarial training capabilities and forging strategic partnerships with top-tier financial institutions committed to tackling synthetic threats proactively.