The emergence of artificial intelligence (AI) has sparked a dual narrative among large enterprises: it is either viewed as a groundbreaking opportunity yet to be realized, or as a potential threat to data security. Addressing this critical issue is the focus of Nexos.ai, a new startup founded by Lithuania’s renowned entrepreneur duo, Tomas Okmanas and Eimantas Sabaliauskas. Recently, they secured a remarkable €30 million in Series A funding to expand their platform that aims to facilitate the safe adoption of AI technologies in corporate environments.
Having raised an impressive $8 million shortly after its launch, Nexos.ai has caught the attention of prominent investors, including Index Ventures and Evantic Capital. The platform serves as a vital intermediary that connects employees with AI systems, ensuring that sensitive data remains protected while businesses can harness the productivity benefits that AI offers.
Understanding the AI security challenge
Okmanas emphasizes the urgent need to address what he terms “the biggest corporate data leak” looming on the horizon, as employees are increasingly sharing sensitive information with large language models (LLMs). Instead of imposing restrictions on AI usage, Nexos.ai positions itself as a neutral facilitator, akin to a “Switzerland for LLMs.” This approach allows organizations to maintain control over their data while simultaneously benefiting from the efficiencies that AI tools can provide.
Building trust through innovation
The rapid success of Nexos.ai can be attributed to the founders’ extensive experience in the tech industry, particularly their previous venture, Nord, a cybersecurity company valued at $3 billion. Unlike their earlier bootstrapped endeavors, Okmanas and Sabaliauskas recognize the significant advantages that venture capital brings to their current startup, particularly in relation to scaling and product development. The involvement of seasoned investors like Index Ventures and Matt Miller’s Evantic Capital, which connects startups with industry experts, has further strengthened Nexos.ai’s position in the market.
Developing a comprehensive AI platform
Nexos.ai’s offerings currently include an AI Workspace designed for employees and an AI Gateway tailored for developers. The gateway acts as a robust control layer that addresses security, compliance, and cost management, while effectively minimizing fragmentation—an obstacle that has hindered the widespread adoption of AI in organizations. By providing a single access point to over 200 AI models, Nexos.ai aims to streamline the integration process for enterprise clients.
Targeting the right audience
As the team engages in up to 60 demos weekly, Okmanas acknowledges that many traditional businesses face a daunting task to convince their boards about the merits of embracing AI. Nexos.ai intends to simplify this journey, but initially focuses on tech-savvy companies already leveraging AI in their daily operations, as well as businesses in regulated sectors concerned about governance and data sovereignty.
The founders identified the critical gap in AI governance while managing Tesonet, their umbrella company that supports various startups. Among their clients are notable companies like Payhawk, a fintech unicorn based in Bulgaria with a presence in Vilnius. The recent funding will empower Nexos.ai to expand its reach into European and North American markets.
Transforming the perception of AI value
For Okmanas, the overarching goal is to dismantle barriers that hinder broader AI adoption in enterprises. While executive boards deliberate the actual value of AI, he points to tangible outcomes witnessed in Tesonet’s portfolio. For instance, at Hostinger, an AI-driven assistant has dramatically reduced the need for human intervention, saving the company €10 million this year alone. Such results highlight the potential of AI to drive significant cost efficiencies.
While details regarding Nexos.ai’s revenue remain undisclosed, Okmanas is optimistic about a workforce expansion to 100 employees by the time the company celebrates its first anniversary. This growth will predominantly occur in Europe, where concerns about data sovereignty are increasingly creating opportunities for Nexos.ai, particularly within public institutions, potentially opening new avenues beyond their current enterprise clientele.
