Total amount raised
$74 Millions
Latest funding date
November, 2020
Location
Abnormal Security has successfully raised $250 million in a Series D funding round, achieving a valuation of $5.1 billion. The company leverages behavioral AI to protect enterprises from targeted email attacks.
Keep reading to explore the intricacies of Abnormal Security's fundraising journey and the investors backing this innovative platform.
What Is Abnormal Security?
Abnormal Security, founded in April 2018 by Evan Reiser and Sanjay Jeyakumar, is headquartered in San Francisco, California. The company specializes in cloud email security, leveraging AI to protect against phishing, social engineering, and account takeovers.
Abnormal Security's platform uses Behavioral AI to model the identity of employees and external senders, profile relationships, and analyze email content. This approach helps prevent attacks that can lead to account takeover, financial damage, and organizational mistrust.
With a workforce of 501-1000 employees, Abnormal Security is recognized as a leader in the 2024 Gartner Magic Quadrant for Email Security Platforms, trusted by over 3,000 customers, including 20% of the Fortune 500.
How Much Funding Has Abnormal Security Raised?
- Series A
- Amount Raised: $24M
- Date: November 2019
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance their AI-driven email security platform.
- Series B
- Amount Raised: $50M
- Date: November 2020
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series C
- Amount Raised: $210M
- Date: May 2022
- Lead Investors: Insight Partners
- Valuation at Round: $4B
- Motivation Behind the Round: To accelerate product development and global expansion.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: March 2023
- Lead Investors: CrowdStrike Falcon Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance cybersecurity capabilities and integrate with CrowdStrike's ecosystem.
- Series D
- Amount Raised: $250M
- Date: August 2024
- Lead Investors: Wellington Management
- Valuation at Round: $5.1B
- Motivation Behind the Round: To further invest in their human behavior AI platform and support global expansion.
Total Amount Raised: $534M
Current Valuation: $5.1B
Key Investors
- Wellington Management
- Details: Wellington Management is a global investment management firm managing over $1 trillion in client assets. They provide investment solutions to a wide range of clients, including institutions and private investors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Airbnb, Robinhood, SpaceX
- CrowdStrike Falcon Fund
- Details: The CrowdStrike Falcon Fund is the investment arm of CrowdStrike, focusing on cybersecurity startups. They aim to support companies developing innovative security solutions.
- Investment Focus Areas: Cybersecurity, technology, security technologies
- Notable Investments: Various cybersecurity startups
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in growth-stage technology and software companies. They have a strong track record of supporting high-growth businesses.
- Investment Focus Areas: Technology, software, growth-stage companies
- Notable Investments: Twitter, Shopify, DocuSign
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies. They have been investing in technology sectors for over four decades.
- Investment Focus Areas: Consumer, enterprise, healthcare
- Notable Investments: Uber, Roku, Warby Parker
- Greylock
- Details: Greylock is a venture capital firm that invests in early-stage companies. They focus on sectors like consumer and enterprise software, with a history of backing successful startups.
- Investment Focus Areas: Consumer software, enterprise software, AI
- Notable Investments: Facebook, LinkedIn, Airbnb
What's Next for Abnormal Security?
Abnormal Security stands at the cusp of significant growth opportunities. With plans to expand into Europe, Asia, and Australia, the company aims to protect more users across various cloud applications. The rise of generative AI and interconnected cloud ecosystems presents a vast market for their AI-native security solutions.
Future fundraising opportunities seem promising, with potential IPO plans on the horizon. The company's rapid growth and market potential continue to attract investor interest, suggesting further investment rounds are likely. However, challenges such as evolving cyber threats and maintaining high growth rates while scaling operations could pose hurdles.
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