San Francisco-based cybersecurityStartups Abnormal Security Announced that they are in Round DFinancingAbnormal Security has successfully raised $250 million in a round of funding. The funds will be used to expand its AI-based cybersecurity platform and accelerate global growth. Abnormal Security focuses on providing AI-driven security solutions to enterprises to help them defend against various email attacks, including ransomware and executive impersonation.
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Wellington Management, a Boston-based investment company, led the round, with participation from Greylock Partners, Menlo Ventures, and Insight Partners. In addition, CrowdStrike's Falcon Fund also supported Abnormal Security. With this round of Series D financing, Abnormal Security's total financing amount reached $546 million, and its valuation increased to $5.1 billion.
The company plans to use the funds for product investment, especially to enhance the capabilities of its autonomous AI decision-making system and develop new features. Abnormal Security also hopes to expand its products and extend its service scope from email protection to other areas of the cloud environment. In order to strengthen business expansion in Asia Pacific and Europe, they are also actively seeking FedRAMP certification in order to provide solutions to the US federal government.
“We are relentless in our mission to protect people through AI and have earned the trust of our customers by delivering exceptional human behavior security products,” said Evan Reiser, co-founder and CEO of Abnormal Security. He noted that the funding will help further invest in our human behavior AI platform to protect more people and help customers accelerate their AI projects.
Abnormal's security platform uses machine learning to detect intrusion attacks and compromised accounts, especially in email and associated applications. Its anomaly detection engine analyzes email content to understand human behavior, effectively identifying social engineering attacks against employees. For example, their Abuse Mailbox tool automatically scans suspicious email headers and content to identify them as safe or potentially malicious.
It is reported that the demand for Abnormal Security's services is extremely strong, with annualized revenue growing by 100% year-on-year. Currently, 17% of Fortune 500 companies are using their services, with a total of more than 2,400 customers. Rob Mazzoni, a late-stage growth investor at W Management, said: "Abnormal Security's early success is impressive, and the platform is well positioned to address today's cybersecurity challenges centered on human behavior and identity."