Deep Instinct, a US-based cybersecurity technology provider backed by consumer electronics producers LG and Samsung, computing technology manufacturer HP and graphics processing unit manufacturer Nvidia, raised $67m in series D funding today.
The capital was entirely provided by investment trust Chrysalis Investments. In addition to new shares issued by Deep Instinct, the deal included the purchase of shares from existing shareholders.
The funding represents a second close to the $100m in series D funding raised by the company in April 2021. The close was led by BlackRock and included Untitled Investments, The Tudor Group, Millennium Technology Value Partners, Unbound, Coatue Management and private investor Anne Wojcicki.
Founded in 2015, Deep Instinct develops cybersecurity software based on end-to-end deep learning technology, which is inspired by the human brain’s ability to learn. Its platform helps businesses prevent and address cyberattacks including first-seen malware, zero-days, ransomware and advanced persistent threats.
The funding will enable the company to expand its go-to-market capabilities and increase its deep learning research and product development activities.
This round brought Deep Instinct’s overall funding to approximately $240m. It had previously raised $43m in a February 2020 series C round led by Millennium’s New Horizons fund and backed by LG, Nvidia, Unbound and CerraCap.
The company had already secured $32m in a 2017 series B round led by Columbus Nova Technology Partners with contributions from Nvidia, Coatue Management and undisclosed existing investors.