AI startup ‘Abnormal Security’ is valued at $5 billion

AI startup ‘Abnormal Security’ is valued at $5 billion
AI startup ‘Abnormal Security’ is valued at $5 billion

Abnormal Security, a startup that uses artificial intelligence to prevent email attacks, is valued at $5 billion in its next round of funding, according to two sources.

The California-based company previously reported that it will surpass $100 million in annual revenue in 2023, five years after it was founded.

Business Insider told two people familiar with the deal that they cited new prices ahead of the new round. However, it is not yet known how much they will raise and the terms of the deal could still change.

It previously raised a whopping $210 million in Series C funding in 2022, led by Insight Partners with support from Greylock Partners, Menlo Ventures, and The Syndicate Group. A total of $374 million has been raised in venture funding.

At the time of the latest round, the company was valued at $4 billion. The AI ​​startup did not comment on the valuation.

What is the beginning of artificial security AI?

Based in San Francisco, the startup focuses on cloud email security and was founded by Evan Reiser and Sanjay Jeyakumar.

On LinkedIn, their description reads: “Abnormality provides comprehensive protection against a wide range of email attacks, including phishing, malware, ransomware, social engineering, executive impersonation, supply chain compromise, internal account compromise, spam, and graymail.”

Now more than ever, their services are receiving more attention as hackers use sophisticated attacks.

Just a few months ago, Microsoft suffered a password-cracking attack that allowed hackers to gain access to a “very small percentage” of the company’s corporate accounts. That included members of its executive team and staff in cybersecurity, legal and other functions.

There have been other attacks in recent years and basic emergency services have been disrupted in times of need.

In addition to the need to strengthen security, the AI ​​industry has also seen a huge surge in interest as many startups begin to invest significantly.

For example, Elon Musk’s xAI raised $6 billion in May after being valued at $24 billion, and French startup Mistral AI had a $6 billion valuation in June.

Featured Image: Via LinkedIn Default Security

 
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