August 6, 2024 at 08:12AM
Abnormal Security raised $250 million in a Series D funding round, valuing the company at $5.1 billion. With a total investment of $546 million, the latest round was led by Wellington Management and saw participation from Greylock Partners, Menlo Ventures, and others. Abnormal provides an AI-native human behavior security platform, boasting over $200 million in annual recurring revenue.
Key takeaways from the meeting notes are as follows:
– Abnormal Security raised $250 million in a Series D funding round at a valuation of $5.1 billion, led by Wellington Management with participation from Greylock Partners, Menlo Ventures, Insight Partners and CrowdStrike Falcon Fund.
– The latest funding brings the total investment in the company to $546 million.
– Abnormal has developed an AI-native human behavior security platform to detect and block attacks targeting email accounts and popular SaaS applications.
– The company’s capabilities include inbound email security, account takeover protection, and security posture management for email, SaaS applications, and cloud infrastructure.
– Abnormal has surpassed $200 million in annual recurring revenue in only five years and claims to have over 2,400 organizations using its solutions, including 17% of the Fortune 500 companies.
– CEO and co-founder Evan Reiser expressed the company’s commitment to protecting humans with AI and its plans to invest in the human behavior AI platform with the new funding.
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