Cyberdeep Instinct company raised $62 million from the investment giant BlackRock

Posted on Sep 19, 2022 by Ifi Reporter

The Cyberdeep Instinct company raised $62 million from the investment giant BlackRock, which had already invested in the company in the past, and the English Jupiter Fund, Calcalist learned. In the coming weeks, the company will complete a fundraising of an additional 18 million dollars, which will complete the fundraising to a total of 80 million dollars - which will bring the company's total fundraising so far to 340 million dollars. The current fundraising is intended to be the company's last fundraising before a public offering in about 18-24 months, depending on the state of the capital market.
At the same time as the capital raising process, the company will undergo a significant management change when the company's founder and CEO Guy Caspi will become the company's chairman and its chief product manager. Len Bess, who was until now the chairman of the company, will serve as the company's CEO. Bass, who has extensive management experience in cyber companies, will assist the company in its journey to become a public company. In the past, Bess was the CEO of Palo Alto and an executive at Zisclear - two American cyber giants.
Also, the company made a decision to completely exit the field of small and medium-sized businesses, as part of which it fired about 30 salespeople in the US - this, after laying off dozens of employees in recent weeks. At the same time, the company is currently recruiting about 60 employees for the development center in Tel Aviv alongside salespeople for operations The company currently employs about 300 people in Israel and the United States.
Weakness of the organization - starting with the end points, through the cloud and the corporate network. The company stated that it tripled the number of its customers in the last year and completed the development of a system that provides more comprehensive protection.
At the Mind the Tech conference of Calcalist and Bank Leumi in New York, Caspi said: "The solution to these dangerous attacks is the use of advanced deep learning. When you look at the industry and all the big names that focus on detection and repair, this is not enough, we must deal more with the prevention of attacks. The corona is not dead until That there wasn't a very strong vaccine - and that's what's happening in the cyber world. You can't fight cyber with the companies that exist today. We need a new breed of companies. We're changing the narrative of the cyber industry with the ability to prevent threats and not just detect an attack after it's happened."


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