US-based cybersecurity software developer Deep Instinct secured $32m yesterday in a series B round that included graphics processing unit (GPU) technology provider Nvidia.
Technology investment firm Columbus Nova Technology Partners led the round, which also featured investment manager Coatue Management and undisclosed existing investors. Mohsen Moazami, managing director of CNTP, has joined Deep Instinct’s board of directors.
Deep Instinct has created an automated cybersecurity platform that uses deep learning to detect cyberattacks and proactively eliminate threats across endpoints.
The company had already received $375,000 from Nvidia in May this year by winning the most disruptive award in the latter’s Inception competition, in which Coatue was also a judge. It has not revealed details of its series A round.
Jeff Herbst, vice-president of business development for Nvidia, said: “Artificial intelligence is the most important technology trend of our era.
“Deep Instinct is an emerging leader in applying GPU-powered AI through deep learning to address cybersecurity, a field ripe for disruption as enterprise customers migrate away from traditional solutions. Nvidia is excited to be working together with Deep Instinct to advance this important field.”
Although Deep Instinct did not disclose the identity of the existing backers in the round, its website lists media and data company US News & World Report, digital technology services provider UST Global, Cerrracap Ventures, Blumberg Capital, Cushman & Wakefield and Naveen Jain as investors.