Abnormal security closed a $250 million Series D funding round, valuing the San Francisco-based cybersecurity company at $5.1 billion.
He led the latest round Wellington Management with the participation of current investors Greylock Partners, Menlo Enterprises, Insight Partners and The Falcon Fund.
This valuation represents an increase of greater than 28% from the $4 billion Abnormal was valued at in May 2022, when the company raised $210 million in a Series C round led by Insight Partners.
Founded in 2018, Abnormal works to forestall attacks and find compromised accounts across email and connected apps by using machine learning and artificial intelligence to grasp human behavior.
The startup has raised a total of nearly $546 million, based on the company.
“This funding allows us to continue investing in our human behavior analysis AI platform to protect more people in everyday applications, while also enabling customers to accelerate their AI initiatives with autonomous AI solutions,” said Co-Founder and CEO Evan Reiser.
Abnormal also said it recently surpassed $200 million in annual recurring revenue.
Cyber is back on top
After a weak 2023, cybersecurity startups are being profitable again.
Cyber startups saw a solid $4.4 billion in investment in Q2 2024, based on Crunchbase dataThe dollar amount represents a 63% increase from the first quarter, when $2.7 billion went to startups across 173 deals.
It was the best quarter for funding in the sector since Q1 2022 and a 144% increase in comparison with Q2 2023.