News
Deep Instinct Closes $100 Million Series D
April 2021 by Marc Jacob
Deep Instinct, the company to apply end-to-end deep learning, based on the only purpose-built deep learning framework for cybersecurity, announced today that it has successfully raised $100 million in Series D funding. The Deep Instinct platform can predict, prevent, and analyse cyberattacks at any touchpoint of the organisation 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.
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.
According to Bryan Littlefair, CEO of Cambridge Cyber Advisers and formerly Global CISO at Vodafone Group and Aviva, “Deep Instinct’s pioneering use of deep learning in cyber security is a complete game changer because it effectively future-proofs security teams. Unlike the old world, where you were always on the back foot because you were only protected against threats that the technology already knew about, now we can predict and prevent zero day attacks that have never been seen before. In a world where the emphasis has previously been on detection and mitigation, we now have the opportunity to proactively identify and stop both known and unknown malware before it has the chance to gain a foothold in our infrastructure.”
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 utilises end-to-end deep learning to specialise 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 organisation 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%.
