Savi raises $7M to shield consumers from AI-powered scams
What's the deal? Savi, a consumer security startup founded by brothers Patrick and Ryan Coughlin, has raised $7 million in seed funding. Acrew CapitalDealroom has a profile for this one. Try Dealroom → led the round, with Magnify VenturesDealroom has a profile for this one. Try Dealroom →, TTCER, and Resolute Ventures participating.
Why now? The company is launching its app for iPhone and Android. It aims to protect everyday users from AI-generated scams delivered via text, email, or phone.
What's the endgame? Savi wants to defend ordinary people against a new wave of convincing AI-driven fraud. The founders bring relevant experience: Patrick worked in national cyber defense, Splunk, and Cisco, while Ryan built consumer products at Apple and Spotify.
The backstory: The idea came from a personal incident. Around 2024, Patrick Coughlin's mother called him distraught, saying a man had phoned to claim he had kidnapped Coughlin's sister.
What could go wrong? Consumer security apps face a crowded market and the challenge of convincing users to adopt yet another tool. Scam tactics also evolve quickly, forcing constant updates to stay effective.
The signal: At $7 million, Savi's seed round lands above the median for its stage, signalling investor appetite for tools that counter AI-enabled fraud. As generative AI makes scams harder to spot, defence aimed at everyday consumers is becoming its own category.
Read more: The Tech Street Now
