Wellington Management leads the funding round as the company surpasses $200M in ARR in only five years, continuing its 100%+ YOY growth trajectory
Abnormal Security, the leader in AI-native human behavior security, today announced the close of its Series D funding round, with total expected proceeds of $250 million at a $5.1 billion valuation. The current round brings the total expected proceeds to $546 million and is led by Wellington Management, with participation from existing investors Greylock Partners, Menlo Ventures, Insight Partners and CrowdStrike Falcon Fund. The latest infusion of capital will enable the company to continue its mission of protecting humans from cybercrime through the power of AI, understanding human behavior to detect and prevent today’s most dangerous socially-engineered attacks.
Today’s email and cloud account breaches are rooted in tactics that exploit human behavior, and today’s enterprises are increasingly susceptible. In particular, the rise of generative AI has enabled even petty criminals to create highly-sophisticated attacks at scale, and the interconnected nature of the cloud ecosystem gives unconstrained access to all connected accounts. The result is an increase in widespread data breaches with extensive financial and reputational consequences.
To prevent this threat, Abnormal Security takes a unique approach to understanding human behavior. In order to protect humans with AI, the platform connects via API to analyze thousands of signals from multiple data sets and precisely baseline known behavior. Autonomous AI models then enable Abnormal to precisely detect anomalous activity and stop never-before-seen attacks with superhuman speed and accuracy—understanding human behavior better than humans to protect humans better than humans. In addition to providing email security for Microsoft 365 and Google Workspace, Abnormal also delivers uniform multi-platform defense for more than a dozen cloud infrastructure and SaaS applications including Workday, Salesforce, ServiceNow, Slack and Amazon Web Services.
The new investment follows years of exponential growth as Abnormal Security continues to see 100%+ year-over-year increases in annual recurring revenue, recently crossing $200 million in ARR. More than 2,400 organizations already trust Abnormal to protect their employees, including 17% of the Fortune 500. Since last August, Abnormal has expanded further into Europe, Asia and Australia and is continuing the process of becoming FedRAMP compliant.
Supporting Quotes
Evan Reiser, CEO and cofounder, Abnormal Security: “We are relentless in fulfilling our mission of protecting humans with AI, and we’ve earned the trust of our customers by providing the best product in human behavior security. This funding allows us to further invest in our human behavior AI platform to protect more people across their everyday applications, while enabling customers to accelerate their AI initiatives with autonomous AI solutions.”
Rob Mazzoni, Wellington Management: “The early success of Abnormal Security is impressive, with the platform well-positioned to address the vast human behavior and identity-centric cybersecurity challenges we’re facing today. Abnormal offers significant value to CISOs, contributing to the company’s rise toward market leadership in only a few years. We believe Abnormal has the potential to become a generational company known worldwide, and we’re thrilled to be leading this round as the company sets its sights on the public market.”
Saam Motamedi, Greylock Partners: “Abnormal Security was built using AI from the very beginning, understanding the potential of AI in cybersecurity when few others did. Their platform solves real customer problems, with thousands of happy customers. We’re proud to have partnered with Abnormal since its inception, and have strong conviction in the company’s ability to leverage AI to solve the next wave of cyber threats targeting humans.”
Rodney Masney, CIO, O-I Glass: “Attackers continue to rely on the natural human tendency to trust digital communications and use social engineering tactics to target my employees. Abnormal Security has solved this problem with its AI capabilities, putting trust back into our organization and freeing my security team to work on other pressing issues. As the arms race between malicious AI and defensive AI continues, I trust Abnormal to keep innovating and protecting O-I Glass from the evolving threat landscape."
Related Links
- Discover what this funding round means for customers in this blog post.
- Learn more about the product portfolio on our Products page.
- Check out open positions and apply to join the team on our Careers website.
About Abnormal Security
Abnormal Security is the leading AI-native human behavior security platform, leveraging machine learning to stop sophisticated inbound attacks and detect compromised accounts across email and connected applications. The anomaly detection engine leverages identity and context to understand human behavior and analyze the risk of every cloud email event—detecting and stopping sophisticated, socially-engineered attacks that target the human vulnerability.
You can deploy Abnormal in minutes with an API integration for Microsoft 365 or Google Workspace and experience the full value of the platform instantly. Additional protection is available for Slack, Workday, Salesforce, ServiceNow, Zoom, Amazon Web Services and multiple other cloud applications.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240806031539/en/
Contacts
Jade Hill
Director of Communications
media@abnormalsecurity.com
