Tech startup Savi Security has secured $7 million in seed funding to launch an app designed to detect AI-generated voice and text fraud. The company enters a growing market where imposter scams caused $3.5 billion in consumer losses during 2025.
Savi Security, a startup founded by brothers Patrick and Ryan Coughlin, has announced a $7 million seed funding round to expand its technology focused on preventing AI-powered fraud. The investment was led by Acrew Capital, with contributions from Magnify Ventures, TTCER, and Resolute Ventures. The company plans to use these funds to scale its mobile application, which provides real-time protection against sophisticated scams.
The rise of generative AI has lowered the costs for cybercriminals to replicate human voices and spoof phone numbers, a trend that prompted the founders to create this solution after a family member was targeted by a voice-cloning scam. Savi Security’s technology was refined through a public pilot phase under the name Scam Wise, which processed over 50,000 user submissions to train its detection models.
Protecting Consumers from Digital Fraud
The app, which is available on iOS and Android platforms, functions by screening texts, voicemails, and incoming phone calls for fraudulent patterns. A key feature of the service is its live call monitoring capability, where an AI agent listens during a conversation to identify behavioral cues associated with common scams. The service is subscription-based, costing $8 per month or $63 annually, with the company positioning it as a family-focused product that covers multiple users under one account.
The financial risk for consumers remains a major concern in the digital economy. According to data from the Federal Trade Commission, imposter scams resulted in losses totaling $3.5 billion in 2025. While digital safety tools are becoming more common, investors and users should note that the effectiveness of AI-based detection depends on the continuous updating of models to keep pace with evolving cyber threats. As AI tools become more advanced, criminals frequently change their methods to bypass security software.
Future Monitorables for Investors
For investors observing this space, the primary monitorable will be the company's ability to maintain high detection accuracy as scam tactics evolve. Furthermore, the firm faces competition from established cybersecurity players and mobile operating system providers that are increasingly integrating native scam-detection features into their software. As Savi Security scales, its success will depend on user acquisition rates, the renewal performance of its subscription model, and its ability to prove that its real-time monitoring can consistently reduce financial loss for its subscribers compared to free alternatives.