The cybersecurity sector is experiencing a resurgence in investment, with cyber startups receiving $4.4 billion in the second quarter of 2024, a 63% increase from Q1. This is the highest funding level since Q1 2022 and a 144% increase from Q2 2023. Abnormal Security recently surpassed $200 million in annual recurring revenue and has raised a total of nearly $546 million since its founding in 2018.
Key takeaways:
- Abnormal Security has raised $250 million in a Series D funding round, increasing its valuation to $5.1 billion, a 28% increase from its previous valuation of $4 billion.
- The funding round was led by Wellington Management and included participation from Greylock Partners, Menlo Ventures, Insight Partners, and the Falcon Fund.
- Abnormal Security, a cybersecurity startup, uses machine learning and AI to detect attacks and compromised accounts across email and connected applications.
- Cybersecurity startups are seeing an increase in funding, with $4.4 billion invested in the second quarter of 2024, a 63% increase from Q1 and a 144% increase from Q2 2023.