AI cybersecurity startup Armadin valued at over $2.5 billion after new funding round
A hooded man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration
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Oct 1 : Armadin said on Thursday that it raised $255.5 million in a Series B funding round, which values the AI cybersecurity company at more than $2.5 billion.
Investors have poured large sums into early-stage startups building defenses against AI-driven cyberattacks.
• Andreessen Horowitz and Accel co-led the round, joined by new investors Bain Capital Ventures and Redpoint as well as existing backers, including Google Ventures, Kleiner Perkins, Menlo Ventures and In-Q-Tel
• The round took total funding to $445 million, Armadin said
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• The company will use the money to scale its platform, research, training and go-to-market efforts
• Armadin uses a swarm of AI agents that act like hackers to find weaknesses
• The company was founded by CEO Kevin Mandia, who also founded cybersecurity firm Mandiant and later sold it to Google
Source: Reuters
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