Cybersecurity company Deep Instinct has collected $43m in its Series C funding round which was led by Millennium New Horizons.
Participation to the round also came from investment firm Unbound, LG, NVIDIA, Samsung and HP. Following the close of the round, the company has raised a total of $100m in funding.
With the capital, Deep Instinct will accelerate its sales and marketing efforts as well as expand its business operations internationally.
Deep Instinct implements end-to-end deep learning technology into cybersecurity to identify and prevent cyber threats before they can breach a system. Its products support advanced endpoint security, mobile security and automatic threat analysis.
The company witnessed a 400% increase in its annual recurring revenue and grew its customer base by 300% in 2019.
Millennium New Horizons partner Ray Cheng said, “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.
“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.”
Copyright © 2020 FinTech Global
