SAN FRANCISCO — Abnormal Security, a provider of email security using artificial intelligence (AI), has raised $50 million in Series B venture capital funding. Led by Menlo Ventures, with participation from early investor Greylock, the round brings Abnormal’s total funding to $75 million.
Since the start of the year, Abnormal said it has tripled its Fortune 500-level customer base and drove a 3x year-over-year increase in annual recurring revenue. The company is using the new funding to double the size of its machine learning and data science teams to improve its AI threat detection engine for enterprise email security.
Large enterprise customers increasingly demand cloud-native email security solutions that do not require tuning or maintenance and provide immediate value by stopping the attacks that bypass legacy secure email gateways. The Abnormal platform deploys to Microsoft 365 and Google Workspace environments in one click through native API integrations. Its AI threat detection engine uniquely analyzes a diverse set of data about people, relationships and business context to understand abnormal behavior and block socially-engineered attacks. The engine also clearly explains to users why an attack is blocked to provide transparency about the AI judgments applied to an environment.
“Abnormal’s AI-powered detection has autonomously stopped incredibly sophisticated attacks,” said Mike Britton, Chief Security and Privacy Officer of Alliance Data. “It’s not only saving time for my security team, but Abnormal’s cloud platform is one of the simplest solutions that we’ve ever implemented – it took just minutes.”
“We were blown away by the positive feedback from Fortune 500 customers using Abnormal Security to protect their organizations from the most sophisticated email attacks,” said Venky Ganesan, an active cybersecurity investor and partner at Menlo Ventures. “Customers unanimously raved about Abnormal’s product innovation and velocity. The unparalleled traction and world-class team that the company continues to build make this a unique opportunity that we could not be more excited to join.”