Security & Fraud

Deep Instinct Raises $32M In Venture Funding

Deep Instinct, the cybersecurity company, announced Wednesday (July 12)  it has raised $32 million in Series B financing.

In a press release the company said the round was led by CNTP, and joined by strategic investors, including NVIDIA, Coatue Management and existing investors. “Evidence validating Deep Instinct’s deep learning technology suggested we needed to raise significant capital to accelerate our deployments in the U.S. and global markets. Through this new infusion of capital, we will work towards augmenting many of the existing end-point solutions and replacing those that are failing under the test of new threats every day,” said Deep Instinct Chief Executive and Co-founder Guy Caspi in the press release.

According to the company, its deep learning offering can detect malicious behavior across multiple vectors and provides adaptive defenses against the most advanced cyberattacks. Deep Instinct says it is the only company providing end-point protection platform (EPP), mobile and remediation capabilities. As a result, threats are rapidly eliminated with fully-automated and integrated response capabilities. “Artificial intelligence is the most important technology trend of our era,” said Jeff Herbst, vice president of business development at NVIDIA in the same press release. “Deep Instinct is an emerging leader in applying GPU-powered AI through deep learning to address cybersecurity, a field ripe for disruption as enterprise customers migrate away from traditional solutions. NVIDIA is excited to be working together with Deep Instinct to advance this important field.”

Deep Instinct’s fundraising comes at a time when security firms are looking for advanced technology to fight the deluge of cyber attacks.  Earlier this month Symantec announced it acquired Fireglass, the Israeli agentless isolation solution startup. In a press release, Symantec said the company’s agentless isolation solution eliminates ransomware, malware and phishing threats in real time by preventing potentially harmful content from ever reaching user end points or the corporate network via cyberattacks. Terms of the acquisition were not disclosed. Symantec said the buy of the Israeli startup strengthens its Integrated Cyber Defense Platform and extends its leadership in battling cyberattacks through its Secure Web Gateway and Email protection, delivered both on premises and in the cloud.

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