Deep Instinct, a company that provides a deep learning platform for cybersecurity, has raised $100 million in a Series D funding round. The financing brings Deep Instinct's total funding to $200 million as of April 2021.
With the Series D funding, Deep Instinct will "enter a new phase of hyper-growth," CEO Guy Caspi said. The funding will help Deep Instinct expand its go-to-market capabilities and deep learning research and product development groups.
Deep Instinct's platform uses end-to-end deep learning for zero-time threat prevention, the company said. It is built on an artificial neural network brain that allows organizations to detect cyber threats and stop them from executing.
Furthermore, Deep Instinct's platform can stop unknown threats in less than 20 milliseconds and reduce false positives by 99 percent, the company said. It also is backed by a false-positive warranty and ransomware warranty (up to $3 million per company for a data breach).
What Does the Future Hold for Deep Instinct?
Deep Instinct will continue to develop its deep learning cyber prediction and prevention capabilities, Chairman Lane Bess said. As such, Deep Instinct's platform could become an essential security component for organizations in the years to come.
Organizations in North America, Europe and the APAC region currently use Deep Instinct's platform, the company noted. Deep Instinct has recorded several strategic wins in the first quarter of 2021 and tripled its enterprise customer base in 2020.
In addition, Netsurion, a Top 250 MSSP that offers cyber capabilities to MSPs, in August 2020 integrated Deep Instinct's threat prevention capabilities into its EventTracker security information and event management (SIEM) platform.
Netsurion is using Deep Instinct's deep learning capabilities to provide its MSP partners with a platform that they can use to predict, prevent, detect and respond to security issues, Netsurion President A.N. Ananth told MSSP Alert in a 2020 interview.