Deep Instinct Closes $100 Million Series D New Funding to Fuel Hyper-GrowthApril 23, 2021
Deep Instinct announced that it has successfully raised $100 million in Series D funding. The Deep Instinct platform can predict, prevent, and analyze cyberattacks at any touchpoint of the organization 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 $200 million, and will fuel the company’s aggressive growth plans for 2021 and beyond.
“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,” said Guy Caspi, CEO of Deep Instinct. “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,” said 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.
Leading the Expansion of Deep Learning for Cybersecurity
Deep Instinct’s cybersecurity platform utilizes end-to-end deep learning to specialize in threat prevention, making it the most efficient and effective cybersecurity solution in the market. Deep Instinct stops unknown, never-before-seen threats in less than 20 milliseconds and reduces false positives by 99 percent – the lowest rate in the industry. The company’s confidence is reflected by providing both the industry’s first false positive warranty and the industry’s largest ransomware warranty, backed by Munich Re Group. Their zero-time cybersecurity solution stands on top of the only deep learning framework purpose-built for cybersecurity, allowing Deep Instinct to process file-based threats faster than other endpoint solutions.
Furthermore, according to Forrester Consulting’s Total Economic Impact (TEI) study on Deep Instinct’s Advanced Endpoint Security Solution, an organization could experience benefits of $3.5 million over three years versus costs of $0.6 million, adding up to a net present value (NPV) of $2.9 million and an ROI of 446%.