Lithuanian startup Nexos.ai, co-founded by Nord Security's Tomas Okmanas and Eimantas Sabaliauskas, has completed a €30 million (approximately $35 million) Series A funding round. The investment, co-led by Index Ventures and Evantic Capital, values the company at an estimated €300 million (approximately $350 million), according to a company spokesperson. This capital injection is intended to support the expansion of its platform, which aims to facilitate secure artificial intelligence (AI) adoption for enterprises by serving as an intermediary between employees and AI systems.
This Series A round follows an $8 million stealth funding round announced earlier this year. Previous investors Creandum and Dig Ventures also participated in the latest funding, alongside angel investors including the CEOs of Datadog, Klarna, Supercell, and Wix. Matt Miller, former Sequoia Capital partner and founder of Evantic Capital, reportedly pursued the investment even though Nexos.ai was not actively fundraising, as stated by Okmanas.
Nexos.ai's platform is designed to address corporate data security concerns related to large language model (LLM) usage. Okmanas has stated his view that "the biggest corporate data leak" is currently in the making due to employees uploading sensitive information to LLMs. The platform, described as a "Switzerland for LLMs," aims to maintain data control while enabling the productivity gains sought by companies. Its product suite includes an AI Workspace interface for employees and an AI Gateway for developers, providing a control layer for security, cost management, and compliance across approximately 200 AI models. The company plans to accelerate support for private models with the new funding.
Current customer engagements include Tesonet portfolio companies and Bulgarian fintech unicorn Payhawk. Nexos.ai is actively conducting numerous demo calls weekly, focusing initial efforts on tech-savvy companies and those in regulated industries with specific governance and data sovereignty requirements. The company intends to utilize the funding for expansion across Europe and North America.
Okmanas and Sabaliauskas identified the enterprise AI governance gap while overseeing Tesonet, their company that builds and invests in startups. Okmanas cited examples within the Tesonet portfolio, noting that an AI assistant at web hosting provider Hostinger reduced the need for human support, resulting in reported savings of €10 million in a single year. While Nexos.ai declined to disclose its current revenue, the company projects its team will grow to 100 people, primarily in Europe, within its first year. Data sovereignty concerns in Europe are also opening potential opportunities for Nexos.ai within public institutions.
