Artificial intelligence-native human behavior security company Abnormal Security Corp. announced today that it has raised $250 million in late-stage funding on a $5.1 billion valuation.
The funding is intended to enable the company to continue its mission of protecting humans from cybercrime through AI and understanding human behavior to detect and prevent socially engineered attacks. Founded in 2018 and launched in 2019, Abnormal Security offers a human security platform that leverages machine learning to stop sophisticated inbound attacks and detect compromised accounts across email and connected applications.
At the core of Abnormal Security’s offering is tackling the issue wherein today’s email and cloud account breaches are rooted in tactics that exploit human behavior, leaving enterprises highly susceptible to attacks. Thrown in the mix, Abnormal Security argues that the rise of generative AI has enabled even petty criminals to create highly sophisticated attacks at scale and the interconnected nature of the cloud ecosystem gives unconstrained access to all connected accounts. The result is an increase in widespread data breaches with extensive financial and reputational consequences.
To prevent these threats, Abnormal Security takes a unique approach to understanding human behavior, using AI and application programming interfaces to analyze thousands of signals from multiple data sets to create a precise baseline of known behavior. Autonomous AI models then allow Abnormal’s platform to detect anomalous activity and stop attacks — even those that have never been seen before — with high speed and accuracy by, in its words, “understanding human behavior better than humans to protect humans better than humans.”
Abnormal provides email security for Microsoft 365 and Google Workspace, along with multiplatform defense for cloud infrastructure and SaaS applications, including Workday, Salesforce, ServiceNow, Slack and Amazon Web Services.
Coming into its new funding round, Abnormal Security has seen strong growth, with over 100% year-over-year increases in annual recurring revenue, having recently passed $200 million in ARR. The company has more than 2,400 customers, including 17% of the Fortune 500.
Notable Abnormal customers include Liberty Mutual Group Inc., Xerox Holdings Corp., Chipotle Mexican Grill Inc., ADT Inc., Airbnb Inc., Avery Dennison Corp., Amcor plc and Moderna Inc.
Wellington Management Co. led the Series D round, with existing investors Greylock Partners, Menlo Ventures Management, Insight Partners and CrowdStrike Falcon Fund also participating. “This funding allows us to further invest in our human behavior AI platform to protect more people across their everyday applications while enabling customers to accelerate their AI initiatives with autonomous AI solutions,” said Abnormal co-founder and Chief Executive Evan Reiser.
Including the new funding, Abnormal Security has raised $546 million to date, including rounds of $50 million in November 2020 and $210 million on a $4 billion valuation in May 2022.