Israeli cybersecurity co Deep Instinct raises $100m

Guy Caspi  / Photo: Nofer Hasson Hendelman
Guy Caspi / Photo: Nofer Hasson Hendelman

The Deep Instinct platform can predict, prevent, and analyze cyberattacks at any point of the organization.

Israeli cybersecurity company Deep Instinct announced today that it has completed a $100 million Series D financing led by funds and accounts managed from BlackRock, with participation from Untitled Investments, The Tudor Group and existing investors, including Millennium, Unbound, and Coatue Management. This brings to $200 million the amount raised by Deep Instinct to date, and the new funds will fuel the company's aggressive growth plans.

Based on a purpose-built deep learning framework for cybersecurity, the Deep Instinct platform can predict, prevent, and analyze cyberattacks at any touchpoint of the organization from the endpoint through to the network.

Deep Instinct was founded in 2015 by CEO Guy Caspi, Dr. Eli David, an AI researcher and former Check Point executive Nadav Maman. David and Maman hold no position in the company. Caspi declines to comment on Deep Instinct's valuation, saying that BlackRock demands that the company does not reveal its valuation or revenue.

The company has 250 employees including 150 in Israel and the remainder in New York, London, and Tokyo. Caspi said, "We are in the midst of a big hiring campaign and we are in advanced procedures with many candidates. We plan to increase the number of employees in Israel to 250 within three or four months and to have a total of 400 employees in the company." 

Caspi expects to take Deep Instinct to an IPO on Wall Street within two years to 30 months and along the conventional path rather than through a SPAC merger.

He added, "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 has customers in North America, Europe, and Asia Pacific, with enterprise customers tripling in the last year, including new Global 2000 companies joining as strategic customers in the first quarter of 2021.

Deep Instinct chairman Lane Bess said, "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. 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."

Published by Globes, Israel business news - en.globes.co.il - on April 22, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Guy Caspi  / Photo: Nofer Hasson Hendelman
Guy Caspi / Photo: Nofer Hasson Hendelman
Fencing goes up Petah Tikva's Segula neighborhood  credit: NTA The Metro is really happening

Although there are skeptics who doubt that the project will ever be realized, there are now enough signs on the ground to indicate that they are probably wrong.

Ben Gurion airport Terminal 1 credit: Shutterstock Ben Gurion airport's Terminal 1 reopens

Terminal 1 at Ben Gurion airport reopened yesterday to domestic flights, while international flights will start using the terminal from Sunday, March 30.

Minister of Interior Moshe Arbel credit: Cadya Levy Interior Minister: There is no deep state in Israel

Minister of Interior Moshe Arbel told the Globes Services conference that civil servants are dedicated employees who serve the public.

Minimum wage credit: Tali Bogdanovsky Minimum wage in Israel to rise next week

The monthly minimum wage in Israel will be revised upwards by 6%.

Bank of Israel  credit: Shutterstock/Alon Adika Bank of Israel slams gov't fiscal policy

Governor Prof. Amir Yaron wrote in the annual report that the government's measures are not enough to ensure a sustained decline in debt-to-GDP ratio.

Minister of Justice Yariv Levin credit: Noam Moskovitz Knesset Spokesperson Knesset passes Judicial Selection Law

The new law makes judicial appointments subject to political control.

Airbnb credit: Reuters Knesset ignores Airbnb tax evasion loophole

The Israel Hotels Association has slammed the government's indifference to tax evasion by Airbnb landlords, which it insists promotes unfair competition.

GMT CFO Eran Tibon credit: PR Political tensions tempt Israelis to move funds abroad

According to data from advanced financial services company Global Money Transfer, steps taken by the Israeli cabinet to oust Shin Bet chief Ronen Bar, and Attorney General Gali Baharav-Miara, could cause capital to flee Israel.

Sde Dov credit: Guy Yehieli Tenders close for 2,744 more homes in Sde Dov

Four tenders closed last month for the north Tel Aviv district saw a decrease of about 40% in the prices of land, and there is great interest in the prices these latest tenders will fetch.

Rafael CEO Yoav Turgeman credit: Rafael Spokesperson Rafael CEO: Iron Beam will be ready in 2025 as promised

In presenting record financial results for 2024, Yoav Turgeman tells "Globes" that the high energy laser weapon system will be operational this year.

Tel Aviv credit: Shutterstock Rent rises moderate due to emigration and reserve duty

Rents only rose 4% in 2024, the Bank of Israel reports, despite the large number of evacuees, due to the negative migration balance and the large number of young people in the army reserves.

Moody's, Benjamin Netanyahu, Bezalel Smotrich, credit: Shutter stock, Government Spokesperson, Tali Bogdanovsky Moody's: Political risks weigh on Israel's rating

"Israel's sovereign credit profile reflects very high political risks that have weakened economic and fiscal strength."

Stef Wertheimer  credit: Reuters Industrialist and philanthropist Stef Wertheimer dies aged 98

Wertheimer founded Iscar, which was sold to Warren Buffett's Berkshire Hathaway, and was behind many industrial and social initiatives, as well as having a brief political career.

Island founders Dan Amiga and Mike Fey credit: Antonio Delucci Browser security co Island raises $250m at $5b valuation

The company has developed a communications technology that enables fast remote connection to corporate computers.

Yossi and Shlomi Amir  credit: Jonathan Bloom Shufersal doubles annual profit

Streamlining measures by brothers Yossi and Shlomi Amir since they took control have vastly improved the supermarket chains profitability metrics.

Africa Israel Residence CEO Ronit Eshed Levy credit: Cadya Levy "Jewish communities want to move together to Jerusalem"

Africa Israel Residence CEO Ronit Eshed Levy told the Globes Going Long on Israel investment conference about urban renewal in Jerusalem.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018