Savi raises $7M to shield consumers from AI-powered scams

Savi, a consumer security startup founded by brothers Patrick and Ryan Coughlin, has raised $7 million in seed funding. Acrew Capital led the round, with Magnify Ventures, TTCER, and Resolute Ventures participating.

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.

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 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.

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.

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.