4 months ago
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Abnormal Security closed a $250 million Series D that now values the San Francisco-based cybersecurity startup at $5.1 billion.
The new round was led by Wellington Management with participation from existing investors Greylock Partners, Menlo Ventures, Insight Partners and the Falcon Fund.
The valuation is a more than 28% uptick from the $4 billion valuation Abnormal got when it raised a $210 million Series C led by Insight Partners back in May 2022.
Founded in 2018, Abnormal looks to stop attacks and find compromised accounts across email and connected applications through leveraging machine learning and AI to understand human behavior.
The startup has raised nearly $546 million total, per the company.
“This funding allows us to further invest in our human behavior AI platform to protect more people across their everyday applications, while enabling customers to accelerate their AI initiatives with autonomous AI solutions,” said co-founder and CEO Evan Reiser.
Abnormal also says it recently surpassed the $200 million in annual recurring revenue mark.
Cyber’s hot again
After a down 2023, cybersecurity startups are once again seeing the cash.
In the second quarter of 2024, cyber startups saw a robust $4.4 billion invested, according to Crunchbase data. The dollar figure represents a 63% increase from Q1, which saw $2.7 billion roll to startups in 173 deals.
It was the best quarter for funding in the sector since Q1 2022 and a 144% increase from Q2 2023.
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Illustration: Dom Guzman
