Lema AI, a cybersecurity startup focused on third-party risk management, has raised $24 million in new funding as it publicly emerges from stealth mode, the company announced Monday.
The Series A round was led by Team8, with F2 Venture Capital— which led the company’s seed round—also participating, alongside Salesforce Ventures. The funding brings Lema’s total capital raised to $24 million, though the company did not disclose its valuation.
Based in New York, Lema develops an artificial intelligence–driven security platform designed to help enterprises better manage cyber risks stemming from third-party vendors. As companies increasingly depend on external suppliers for core operations, the number of vendors with access to sensitive systems and data has grown sharply.
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Founders of Lema AI: from right, Tomer Roizman, Eddie Dovzhik, Omer Yehudai
(Photo: Nathaniel Tobias)
According to Gartner, about 60% of organizations now rely on more than 1,000 third-party vendors. At the same time, a McKinsey report found that nearly one-third of recent cyber breaches originated with third parties. Despite this, many organizations continue to rely on static compliance questionnaires and manual checklists to assess vendor risk.
Lema says those approaches leave major blind spots. Its platform uses what it describes as “agentic AI” to continuously analyze how vendors interact with enterprise systems. Rather than validating compliance at a single point in time, the system tracks vendor access to critical assets, monitors data movement, and evaluates changes in permissions to identify potential attack paths.
“We founded Lema because third-party risk needs to be treated like a security problem, not a compliance checklist,” said Eddie Dovzhik, the company’s chief executive and co-founder. “The industry is relying on manual assessments that miss the real-time business context and impact third parties have on the organization.”
The company said its technology is designed to emulate the approach of a vulnerability researcher, mapping how a compromised vendor could affect an enterprise and identifying which vendors pose the greatest risk. Lema claims enterprises can assess new vendors in under five minutes using its platform.
Lema said its platform is already in use by Fortune 500 companies, though it declined to name customers. The company plans to use the new funding to expand product development and grow its customer base as organizations seek more dynamic ways to secure increasingly complex supply chains.