Free Newsletters for the Channel
Register for Your Free Newsletter Now
This brings Deep Instinct's total funding to $240 million.
July 6, 2021
Deep Instinct partners will see more opportunities from a new $67 million investment in the company by Chrysalis Investments. This brings its total funding to $240 million.
Deep Instinct applies end-to-end deep learning to predict, identify and prevent cyberattacks. The cybersecurity vendor’s customers span a range of different industries including finance, education, retail and technology.
In April, Deep Instinct announced it had raised $100 million in Series D funding.
Jeffrey Giannetti is Deep Instinct’s chief revenue officer.
Deep Instinct’s Jeffrey Giannetti
“The new investment will allow us to continue building out a best-in-class partner program as we continue to recruit, onboard and grow our partner ecosystem,” he said.
Partners will get more market awareness, Giannetti said. They’ll also benefit from an increased sales presence in all regions around the world.
Moreover, Deep Instinct is planning more investments into its partners.
Deep Instinct is using a majority of the money raised in this round to bolster sales, marketing and product engineering, Giannetti said. That’s so partners can continue leveraging a deep learning-powered solution that prevents ransomware from even reaching their customers.
In addition, Deep Instinct will add new product features and enhancements, he said. That will allow partners to further differentiate themselves from the competition.
Since all sales will go through Deep Instinct partners, they’ll continue to play a critical role in the company’s expansion plans, Giannetti said.
“We can’t grow and be successful without our partners and the services they offer around our product set,” he said. “Our partners can expect to see and hear even more about us in the press, at events and as we continue to win more deals in the market.”
These activities and excitement will continue to drive attention to Deep Instinct, Giannetti said. In turn, that will drive business to partners across the globe.
Richard Watts is co-portfolio manager at Chrysalis Investments.
“We have spent considerable time analyzing the cybersecurity landscape and believe that Deep Instinct has developed best-in-class technologies,” he said. “Deep Instinct’s cybersecurity platform utilizes end-to-end deep learning to specialize in threat prevention, making it the most efficient and effective cybersecurity framework in the market. This technology … is likely to be hugely disruptive, given its advantages over more prevalent endpoint detection and response (EDR) solutions.”
Read more about:MSPs
You May Also Like
Viirtue, MSP Partners Seek Larger Piece of IT PieFeb 29, 2024
New Cisco OT Route to Market Opens New Partner SetFeb 29, 2024
Broadcom-VMware Saga Update: Nutanix Wins, Carbon Black Sale, Hock Tan PayFeb 29, 2024
Zero Trust World: ThreatLocker Unleashes New Tools to Stop ThreatsFeb 27, 2024