DTEX Systems, a global leader in the field of insider risk management, has successfully closed a Series E funding round of $50m.
The investment was led by CapitalG, Alphabet’s independent growth fund, elevating DTEX Systems’ total investment to $138m. This capital infusion is earmarked for the expansion of the company’s U.S. engineering team and the acceleration of its global go-to-market (GTM) operations.
The company specializes in leveraging AI and behavioral science to innovate the insider risk management market. DTEX Systems aims to provide organizations with the tools they need to proactively safeguard against insider threats. Their approach combines large language models (LLMs) with cutting-edge behavioral science research, offering a unique and effective solution for managing insider risk.
The new funding will support DTEX’s mission to protect organizations worldwide from insider threats by enhancing its technological offerings. This includes expanding the application of LLMs and behavioral science in their product development to disrupt the current market landscape. DTEX has demonstrated significant growth in the past year, doubling its annual recurring revenue (ARR) growth rate and closing an unprecedented number of high-value deals.
CapitalG partner James Luo commented on the investment, “Our investment in DTEX comes at a time when enterprises worldwide are increasingly reprioritizing their security investments in order to address the costs and impact of insider risks. At the same time, the market is underserved by legacy technologies that don’t provide visibility into the behavioral nuances that are essential to understanding and proactively mitigating both malicious and unintentional insider risks.
“DTEX takes a differentiated approach to mitigating insider risks and has a proven record of success as the most innovative and effective solution on the market. We look forward to partnering with the DTEX team to support the company in its next phase of growth.”
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