Deep Instinct uses artificial intelligence and machine learning to provide threat detection and automated remediation for enterprise endpoints. The company’s Deep Neural Network (D-brain) technology detects known and unknown malware, ransomware, and other forms of threats.
In March 2021, Deep Instinct started including a performance guarantee to ensure an extremely low false-positive rate and a ransomware warranty of up to USD 3 million per company for a single breach.
Key customers and partnerships
As of February 2020, the company served customers in the Fortune 500 operating across financial services, healthcare, aviation, insurance, and technology. Deep Instinct partnered with Cloud Distribution in July 2021 to launch its prevention platform through UK channel partners. The company also partnered with Tanium, a cyber asset and inventory management provider in November 2021 to deliver an integrated threat response solution for endpoint security.
Funding and financials
In September 2022, the company raised USD 62 million from BlackRock and Jupiter Fund Management, bringing the total funding raised to USD 322 million. Deep Instinct had plans to further extend this round with additional USD 18 million. Reportedly, this is also the company’s last funding round before it looks at going public over 2023, depending on public market conditions.
Additionally, the company also made a decision to lay off 46 employees , or 16% of its total workforce across Israel, the US and Europe in July 2023 following a management restructuring, and reportedly planned to stop making new hires in Israel.
In March 2023, Deep Instinct received an undisclosed investment from PayPal Ventures , with the funding expected to be used to accelerate the growth of the company and its threat prevention technology.
In 2022, Deep Instinct grew its customer base by three fold, which includes numerous Global 2000 companies spanning across the US, Europe, and Asia-Pacific.
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