Deep Instinct, a US threat prevention technology business, has raised $62.5m in new funding.
The round was headed by BlackRock and saw participation from Millennium, Unbound and Chrysalis Investments.
According to FinSMEs, Deep Instinct takes a prevention-first approach to stopping ransomware and other malware using a purpose-built, deep learning cybersecurity framework.
The Deep Instinct Prevention Platform adds to every security stack—providing multi-layered protection against threats across hybrid environments.
The company plans to use the newly raised capital to grow its presence in the market by further penetrating it.
As a part of the raise, Guy Caspi – co-founder and former CEO – will succeed Lane Bess as board chair and is now the chief product officer.
Last year, Deep Instinct secured an $67m investment from Chrysalis Investments as an extension to its Series D, which closed on $100m.
The investment includes issuance of new equity and acquisition of shares from existing shareholders. With the capital injection, the company hoped to expand its go-to-market capabilities and bolster its research and development efforts.
The round was headed by the growth equity business within Goldman Sachs Asset Management. Also taking part were GiantLeap Capital, Foundation Capital, Intel Capital, In Q-Tel and Neotribe Ventures.
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