Abnormal Security Nets $210 Million in New FundingAbnormal Security Nets $210 Million in New Funding
The four-year-old company is now valued at $4 billion.
May 10, 2022
Abnormal Security has closed a $210 million funding round led by global software investor Insight Partners.
Greylock Partners and Menlo Ventures also participated. The four-year-old company is now worth $4 billion.
Abnormal Security protects more than 5% of the Fortune 1000 and numerous notable companies. Those include Xerox, Hitachi Vantara, Urban Outfitters, Groupon, Royal Caribbean International and Auto Club Group-AAA.
In the past year, the company tripled its annual recurring revenue (ARR). It also doubled its number of employees and unveiled its next-generation email security platform.
Evan Reiser, CEO and co-founder of Abnormal Security, said the funding will allow his company to accelerate its artificial intelligence (AI) platform innovation to better protect its customers and continue its growth in Europe, Asia and Japan.
Partners to Benefit from Accelerated Customer Interest in Abnormal Security
Bertrand Yansouni is Abnormal Security’s vice president of worldwide channel sales.
Abnormal Security’s Bertrand Yansouni
“Given the significant customer pain around advanced email attacks and the massive total addressable market, our partners benefit greatly from working with Abnormal,” he said. “We expect that this announcement will only accelerate and amplify customer interest in Abnormal, which is a benefit to our partners since we are a channel-first company.”
This funding will also enable the company to aggressively invest in continued product development, Yansouni said. This directly benefits both customers and partners.
“In addition, we’ll use the funding to grow the organization, including our worldwide channel team and channel infrastructure,” he said. “This will result in more resources for our partners, with increased support for their marketing and selling efforts.”
Partners Play Central, Critical Role in Growth and Expansion
Abnormal Security‘s partners play a central and critical role in its growth and expansion plans, both in North America and internationally, Yansouni said.
“Our strategy is to be highly selective in picking the partners we work with and really invest in those partners who are investing in Abnormal,” he said. “Our partners’ first responsibility is always to their customers — to bring them innovative and positively disruptive solutions to their biggest challenges. Abnormal will use this funding to continue enhancing our AI-driven solutions and our customer support.”
Jeff Horing is co-founder and managing director of Insight Partners.
“It is clear that a new breed of cybersecurity solutions that leverage AI is required to change the game and stop the rising threat of sophisticated and targeted email attacks,” he said. “There is simply too much data for humans to analyze and determine what’s real and what’s a threat. We invested in Abnormal because it is uniquely positioned to protect organizations’ email in the cloud with its AI-driven approach. Secure email gateways can no longer reliably secure email, with many organizations having moved to the cloud and modern attacks successfully evading them. What worked 20 years, or even 10 years ago, is no longer applicable.”
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