Cybersecurity startup Charm Security today emerged from stealth mode with $8 million in seed funding from Team8.
Founded in 2024 by cyber intelligence expert Roy Zur and AI-driven fraud prevention pioneer Avichai Ben, the New York-based startup has built an AI-powered customer security platform that aims to protect businesses and their customers from human-centric and social engineering fraud.
Charm is tackling an increasingly sophisticated threat landscape where scams involve complex social engineering and are fueled by the rise of gen-AI, while banks and other financial institutions face increased scrutiny and liability.
The startup aims to prevent scams before they occur by analyzing human vulnerability exposure and customer risk patterns, and through providing actionable insights and tailored mitigation strategies.
Its platform can also disrupt deception and manipulation in real time, when they are actively unfolding, protecting customers across various channels, including digital, voice, and in-person.
Charm says it can build customer risk profiles, evaluate employee readiness, and provide awareness programs and proactive prevention tools.
According to the startup, its platform can tackle deception and manipulation for financial institutions, credit card issuers, payment processors, digital platforms, retailers, telecom providers, healthcare and insurance providers, and energy and utilities companies.
Charm will use the new investment to hire new talent, accelerate product development, expand partnerships, and increase its market presence to drive adoption.
“Scammers are evolving at an unprecedented pace, using AI to deceive customers before traditional fraud systems can intervene. We are on a mission to break the ‘scam spell’ by leveraging AI-powered real-time interventions and psychological insights to protect users when they need it most,” Charm co-founder and CEO Roy Zur said.
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