Monday, 2024 February 26

Israeli cybersecurity company Deep Instinct nabs USD 100 million investment

Israel’s Deep Instinct, a cybersecurity company that applies end-to-end deep learning to predict, identify and prevent cyberattacks, announced on Thursday that it raised USD 100 million in its Series D funding round, bringing its total funding to USD 200 million.

The round was led by US multinational investment management corporation BlackRock, with participation from Untitled Investments, The Tudor Group, an investment by Anne Wojcicki (CEO of 23andMe), and existing investors, including Millennium, Unbound, and Coatue Management, among others. Previous backers include Nvidia, LG Technology, and Munich Re Group.

Deep Instinct was founded in 2015 by Eli David, Guy Caspi, and Nadav Maman. The company uses a patented deep learning platform trained to identify and prevent sophisticated and advanced cyber threats with accuracy and speed.

“As we enter a new phase of hyper-growth, this investment round will significantly expand our go-to-market capabilities while also increasing our best-in-class deep learning research and product development groups,” said CEO Caspi. “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 says it currently protects customers across North America, Europe, and Asia, with enterprise customers tripling in the last year. The company said it will use the injection of new funds to fuel its aggressive growth plans for 2021 and beyond.

“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,” said Deep Instinct chairman Lane Bess.

“I see our platform emerging as an essential security component in the next few years. 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—essentially vaccinating enterprises from cyber vulnerabilities,” added Bess.

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This article first appeared in NoCamels, which covers innovations from Israel for a global audience.


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