Deep Instinct secures $100m in funding for hyper-growth
Deep Instinct, the first company to apply end-to-end deep learning, based on the only purpose-built deep learning framework for cybersecurity has successfully raised $100m in Series D funding.
The Deep Instinct platform can predict, prevent, and analyze cyberattacks at any touchpoint of the organisation from the endpoint through to the network. This round was led by funds and accounts managed from BlackRock, with participation from Untitled Investments, The Tudor Group, an investment by Anne Wojcicki, and existing investors, including Millennium, Unbound, and Coatue Management, among others.
This new capital doubles the investment to date, bringing the total funding to $200m, and will fuel the company’s aggressive growth plans for 2021 and beyond.
Deep Instinct’s CEO Guy Caspi says: “As we enter a new phase of hyper-growth, this investment round will significantly expand our go-to-market capabilities while at the same time increase our best-in-class deep learning research and product development groups.
“These groups will focus on further developing the company’s unique deep learning platform beyond endpoint into cloud, network, and storage to meet the accelerating needs of our customers in the face of more sophisticated threats and breaches.”
Deep Instinct currently protects customers across North America, Europe, and APAC, with enterprise customers tripling in the last year, including strategic wins with multiple Global 2000 companies in Q1 2021.
“After 20 years of bringing early-stage companies to public market entry and having been involved with Deep Instinct since inception, I can say with certainty that the benefits of our deep learning technology will change how the industry looks at cybersecurity. I see our platform emerging as an essential security component in the next few years,” adds Lane Bess, Deep Instinct Chairman. “With the support of our investors, Deep Instinct will continue to grow as the only company to develop deep learning cyber prediction and prevention capabilities, and essentially vaccinate enterprises from cyber vulnerabilities.”
Much like autonomous vehicles, speech recognition and recommendation engines have leveraged deep learning to turbocharge their applications, Deep Instinct is pioneering the deep learning adoption in cybersecurity. With 80 percent of successful breaches leveraging zero-day attacks, according to Ponemon Institute’s State of Endpoint Security Risk report, the need for a transformational approach to security is more critical than ever before.