Cube3.AI, a Palo Alto, Calif.-based web3 transaction security platform provider, raised $8.2m in seed funding.
Backers included Blockchange Ventures, Dispersion Capital, Symbolic Capital, Hypersphere Ventures, ICLUB and TA Ventures.
The company intends to use the funds to expand operations and its development efforts.
Led by Einaras Gravrock, Founder and CEO, Cube3 provides a platform featuring three products: Detect, Protect and Manage.
Detect features advanced machine learning algorithms that continuously monitor and rate every transaction, smart contract and wallet address with a Risk Score in three categories: fraud, cyber and compliance. Companies are able to proactively monitor watchlists and set up alerts for real-time notifications.
Protect, an end-to-end protection platform for web3 applications – from the user interface to the underlying smart contract code. It’s powered by a Runtime Application Self-Protection (RASP) technology that blocks cyber exploits, fraud, vulnerabilities and compliance risks in real-time that are outside a company’s risk threshold. The RASP can be integrated into web3 applications via a lightweight SDK or use an API to access the transaction Risk Score feature and handle enforcement within their own application. Also, customers have a variety of risk threshold Rules they customize.
Manage enables companies to proactively monitor addresses, set up alerts and view reports, analytics and logs. Within the Manage product, there are two systems: Alerts and Rules. Alerts enable companies to monitor watchlists and receive real-time notifications for activity like detected risks, warnings and blocked transactions. Accordingly, companies can configure alerts to be sent via tools that support webhooks – including Discord, Slack, Telegram and Zapier. Rules allows customers to determine their allow / block decisions by customizing risk thresholds and whitelisting or blacklisting certain addresses.
