PayPal Ventures has invested in Deep Instinct, a company claiming to be the first to apply deep learning to cybersecurity.
PayPal Ventures joins existing investors including BlackRock, Chrysalis Investments, Unbound, The Tudor Group, Coatue Management and others.
According to Deep Instinct, this investment further validates confidence in Deep Instinct’s ‘unrivalled’ ability to see cyber threats well before other solutions can. The funding will help further accelerate Deep Instinct’s growth, driven by its disruptive threat prevention technology.
Deep Instinct currently protects customers across North America, Europe, and APAC, with enterprise customers tripling in 2022, including strategic wins with numerous Global 2000 companies.
Deep Instinct CEO Lane Bess said, “We are excited that PayPal Ventures sees the market potential of using deep learning to safeguard against cyber-criminal activity by immediately preventing even the most advanced attacks.
“With the support of our investors, I’m convinced that the future of cybersecurity is on the cusp of a long-awaited change inspiring every enterprise to adopt a prevention-first strategy.”
PayPal Ventures partner Alan Du added, “Deep Instinct has developed an industry-leading threat prevention platform, allowing enterprises to get ahead of cybercriminals and malicious threats. We’re thrilled to invest in Deep Instinct and believe the company will help move the cybersecurity industry beyond its current detection and remediation focus to a prevention-first model.”
RegTech startup Naq, an automated data compliance and due diligence platform, has secured $1.5m in its seed funding round.
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