Forbes August 6, 2024
Abnormal Security has announced a Series D funding round of $250 million, giving it a $5.1 billion valuation.
The company offers a machine learning platform that’s trained on normal activity for a company’s email and collaboration apps, enabling it to flag what’s abnormal. The aim is to prevent social engineering attacks that try to trick employees into giving attackers a way onto company networks. It also offers an AI assistant that helps staff when they flag a suspicious email or message.
The startup’s growth has been rapid in recent years: it says that it’s scored 100% year-over-year increases in annual recurring revenue, which is currently over $200 million. Among over 2,400 Abnormal customers are Airbnb, Boohoo Fashion, Chipotle and Xerox.
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