Abnormal Security has announced a $250 million Series D funding round that values the company at $5.1 billion, a value that marks an increase from its $4 billion valuation in mid-2022, CRN reports.
The cybersecurity firm, which is known for its behavioral AI-powered platform, plans to use the funds to expand its customer base, develop new products, and prepare for an initial public offering in late 2025, according to co-founder and CEO Evan Reiser.
Founded in 2018, the company initially focused on email security but has since broadened its protection to include collaboration and cloud platforms, with plans to secure a wider range of software-as-a-service applications.
"We started with an email security company, we became a Microsoft and Google security company. Now we're going to expand to [secure] all cloud applications. That's what we see on our six to 12-month roadmap, Reiser said. Reiser also emphasized the importance of leveraging AI to defend against increasingly sophisticated AI-driven cyberattacks, adding: "There’s a way bigger opportunity for us to further develop some of our behavioral modeling and AI detection and response to go stop those attacks."
