March 5, 2024 at 11:06AM
Dtex Systems, a California-based company, has secured $50 million in late-stage funding, with a total of $138 million raised. The funding aims to accelerate the application of large language models and behavioral science research to disrupt the insider risk management market. Dtex utilizes machine learning and network monitoring to detect and mitigate insider threats. The company plans to expand its US engineering team and global go-to-market operations with the new financing.
From the meeting notes, it is clear that Dtex Systems, a Silicon Valley company working on automating the detection of insider threats, has recently secured a significant $50 million in late-stage funding led by CapitalG, the investment arm of Google’s parent company Alphabet. This Series E funding brings their total raised capital to $138 million and will be utilized to accelerate the application of large language models (LLMs) and behavioral science research to disrupt the insider risk management market.
Dtex Systems utilizes a combination of machine learning and network monitoring technologies to identify unusual patterns or activities and minimize data loss from insider threats. Their flagship product is positioned as a lightweight platform with tooling for Data Loss Prevention (DLP), User Behavior Analytics (UBA), and User Activity Monitoring, enabling them to detect and mitigate insider risks well before data loss occurs. They claim that their platform can pinpoint abnormal behavioral “indicators of intent” to mitigate the risk of data and IP loss.
The company has plans to use the new financing to expand its US engineering team and grow its go-to-market operations globally. Additionally, it is notable that the US Gov has published an Insider Threat Program Maturity Framework, emphasizing the importance and relevance of insider threat detection. This represents a significant milestone for Dtex Systems as they continue to advance their technology in the insider risk management market.