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Summary
- Deep Instinct’s cybersecurity platform provides a platform that offers predictive threat prevention.
- The cybersecurity startup received a total investment of US$200 million to date.
- Deep Instinct CEO reportedly said it would two to three years for an IPO.
Speculations are rife that cybersecurity startup Deep Instinct is headed for a market listing. Deep Instinct’s chief executive previously disclosed his plans for an initial public offering (IPO).
But the company is yet to make any official announcement on IPO plans and expected date for a public offering.
What does Deep Instinct do?
The New York-based company was founded by Guy Caspi, Nadav Maman and Eli David in 2015. The cybersecurity startup provides a platform that offers predictive threat prevention.
Its platform follows a prevention first approach, followed by detection and response, automatic analysis and remediation. The platform use end-to-end deep learning to prevent threats. The company claims that its platform can block threats in less than 20 milliseconds and cut false positives by 99 percent.
The cybersecurity vendor backs its products with a performance guarantee for low false positive rates. It also provides a ransomware warranty of up to US$3 million for a single breach.
The company said malware and ransomware attach jumped 358 percent and 435 percent year over year respectively in 2020.
Last year, Deep Instinct announced its plans to establish a Japanese subsidiary to serve the Asia-Pacific region and the company opened an office in the UK.
Apart from New York, the company currently has offices in Tel Aviv, UK and Japan.
Source: Pixabay
Deep Instinct fundings
In April 2021, Deep Instinct secured US$100 million investment in series D round.
Investors participated in the funding round include BlackRock, Untitled Investments, and the Tudor Group among others. With the series D funding, the company’s received a total investment of US$200 million to date.
Deep Instinct IPO
In April, Deep Instinct CEO Guy Caspi reportedly said it would take two to three years for the company to become public and its eyes over US$10 billion in valuation.
Caspi also noted that the company considered both Special Purpose Acquisition Company (SPAC) and IPO to become public, but chose to go with the latter one.
Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
