Deep learning and cybersecurity company Deep Instinct has announced that it has raised $43 million in Series C funding in a round led by Millennium New Horizons, and with participation from the London-based Unbound, LG, and existing investor NVIDIA.
This funding, along with previous rounds that saw the likes of Samsung and HP Inc. participating, brings the total amount of funding the company has raised to $100 million. The money will be used to accelerate Deep Instinct’s sales and marketing teams, and support its business operations globally.
“This significant round of new funding highlights the importance of prevention for every enterprise. The economic impact of repairing a breach is too high to ignore the need to prevent threats before they occur. The message to the market is that to fight today’s cyber threats true prevention will become more critical than detection and response,” said Lane Bess, Deep Instinct’s Chairman.
Deep Instinct touts itself as the first and only cybersecurity company that successfully applies end-to-end deep learning to predict, identify and prevent cyberattacks. It is also available across multiple operating systems including Windows, Android iOS, Chrome OS, and macOS.
Using its proprietary artificial deep neural network, Deep Instinct mimics the way the human brain learns to identify an object and ‘learns’ the patterns of various types of cyber threats, predicting them in what the company says is in “zero-time with unmatched accuracy and speed”.
This allows it to protect against first-seen, sophisticated, and advanced threats, as opposed to traditional security solutions that rely on protecting systems against known threats.
“Traditional cybersecurity is broken,” said Guy Caspi, co-founder and CEO of Deep Instinct. “Current solutions based on ‘assume breach’ are simply insufficient for the highly sophisticated attack landscape we all face. Deep Instinct takes an entirely new approach, preventing attacks before they are executed,” he added.
Deep Instinct’s deep learning protection — which recently garnered the company an ISO 27001 certification — has been recognized by SE Labs, where it achieved a 100% detection rate in tests on both file-based and file-less attacks with zero false positives.
The company has shown rapid growth since its founding, achieving an annual increase in recurring revenue of over 400%, and has increased its customer base by 300% in 2019. Its Fortune 500 customer list includes a number of companies in the global financial services sector, as well as healthcare, aviation, insurance and the tech sector.
“There is no shortage of cybersecurity software providers, yet no company aside from Deep Instinct has figured out how to apply deep learning to automate malware analysis,” said Ray Cheng, Partner at Millennium New Horizons. “What excites us most about Deep Instinct is its proven ability to use its proprietary neural network to effectively detect viruses and malware no other software can catch. That genuine protection in an age of escalating threats, without the need of exorbitantly expensive or complicated systems is a paradigm change,” he added.
Deep Instinct also recently announced a partnership with HP Inc. to help launch the new HP Sure Sense system on HP’s latest EliteBook and ZBook devices. HP Sure Sense leverages Deep Instinct’s deep learning threat prevention to provide zero-time detection and prevention against cyber threats.