Deep Instinct, the first company to apply deep learning to cybersecurity, today announced an investment from PayPal Ventures.
This investment further “validates confidence in Deep Instinct’s unrivaled 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.”
Alan Du, Partner at PayPal Ventures, said:
“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.”
Lane Bess, CEO of Deep Instinct, 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.”
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.”
PayPal Ventures joins their existing investor base, “including BlackRock, Chrysalis Investments, Millennium, Unbound, Untitled Investments, The Tudor Group, Coatue Management, and others.”
As noted in the update, PayPal Ventures is “the global corporate venture arm of PayPal. We invest for financial return, in companies at the forefront of innovation in fintech, commerce enablement, digital infrastructure, and crypto/blockchain technologies.”
Through the expertise, experience, and vast network of PayPal Ventures – and the companies we invest in – they are “helping to bring transformative solutions to market faster.”
As mentioned in the announcement, Deep Instinct is “the only prevention-first cybersecurity company with natively architected deep learning platform.”
They keep enterprises safe “by stopping >99% of threats before other solutions even see them – at a speed and scale, unprecedented in the industry.”
Deep Instinct significantly “reduces detection noise and false alert storms to reduce overall risk, improve SOC team productivity, and improve the total cost of ownership of our customers’ entire cybersecurity stack.”