Israeli deep learning cybersecurity company Deep Instinct has announced a $43 million Series C financing round led by Millennium New Horizons, with participation from Unbound, LG, and existing investor NVIDIA. HP Inc. and Samsung having participated in previous financing rounds. The investment, which brings the company’s total funding to $100 million, will be used to accelerate sales and marketing, as well as to support the expansion of business operations globally.
Deep Instinct cofounder and CEO Guy Caspi 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."
Deep Instinct’s deep learning protection has the lowest level of false positives of any cybersecurity provider. It is inclusive of physical and virtual networks, endpoints, and mobile, across multiple operating systems (Windows, iOS, Android, Chrome OS, and macOS).
Deep Instinct chairman Lane Bess 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."
Deep Instinct’s Fortune 500 customers include global financial services, healthcare, aviation, insurance, and technology companies. The company has grown rapidly since its founding due to the high demand for its groundbreaking technology, achieving an over 400% increase in annual recurring revenue and increased its customer base by 300% in 2019.
Deep Instinct recently announced an OEM partnership with HP Inc. to launch HP Sure Sense, on HP’s latest EliteBook and ZBook devices. By leveraging Deep Instinct’s deep learning threat prevention engine, HP Sure Sense provides zero-time detection and prevention against the most advanced cyber threats.
Published by Globes, Israel business news - en.globes.co.il - on February 12, 2020
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