12 February 2020:
Cybersecurity firm Deep Instinct has raised $43 million in Series C round of funding. The funding round was led by Millennium New Horizons.
Unbound, LG and existing investor NVIDIA also participated in the funding round.
The company will use the fresh capital to accelerate sales and marketing, as well as to support the expansion of business operations globally.
Guy Caspi, co-founder and CEO of Deep Instinct, said, “Traditional cybersecurity is broken. Current solutions based on ‘assume breach’ are simply insufficient for the highly sophisticated attack landscape we all face. Deep Instinct takes an entirely new approach, preventing attacks before they are executed.”
Lane Bess, Deep Instinct’s Chairmanm said, “This significant round of new funding highlights the importance of prevention for every enterprise. The economic impact of repairing a breach is too high to ignore the need to prevent threats before they occur. The message to the market is that to fight today’s cyber threats true prevention will become more critical than detection and response.”
Ray Cheng, Partner at Millennium New Horizons, said, “There is no shortage of cybersecurity software providers, yet no company aside from Deep Instinct has figured out how to apply deep learning to automate malware analysis. What excites us most about Deep Instinct is its proven ability to use its proprietary neural network to effectively detect viruses and malware no other software can catch. That genuine protection in an age of escalating threats, without the need of exorbitantly expensive or complicated systems, is a paradigm change.”
Jeff Herbst, Vice President of Business Development at NVIDIA, said, “Artificial intelligence is now sweeping across industries, bringing benefits to a wide range of vertical markets. Deep Instinct’s unique approach in applying true deep learning to cybersecurity is yielding revolutionary breakthroughs that are being embraced by a growing market.”
Deep Instinct recently announced an OEM partnership with HP Inc. to launch HP Sure Sense, on HP’s latest EliteBook and ZBook devices.
(Image – Deep Instinct)