I am thrilled about the continued customer trust in Abnormal as evidenced by our 99% renewal rate,” said Evan Reiser, CEO and co-founder of Abnormal Security. “We are fortunate that some of the most notable companies in the world, with large and complex environments, trust our AI-based email security to protect their workforce. The company has a 4.9 rating out of 5 for Gartner® Peer Insights™, with a 100% recommendation from participating companies. It became immediately apparent to our security team that to protect our workforce from devious email attacks, Abnormal’s AI-based solution was the best intelligent, context-aware email security platform available.”Ībnormal protects more than 5% of the Fortune 1000 and numerous notable companies including Xerox, Hitachi Vantara, Urban Outfitters, Groupon, Royal Caribbean International and Auto Club Group-AAA. We evaluated numerous email security solutions, and after experiencing an incredible Abnormal proof of value, we realized this is the real deal. Gopal Padinjaruveetil, CISO, Auto Club Group-AAA, explained why the organization chose Abnormal, “Our secure email gateway solution was failing to stop advanced high-risk/low-volume email attacks like BEC, which created a significant risk exposure to the company.
As a result, enterprises are increasingly relying on Abnormal Security’s AI-based platform to effectively protect their workforce.
#MATTERMOST VALUATION MANUAL#
Modern email attacks have created an insurmountable challenge for security teams, who can no longer prevent these threats by using manual processes or traditional email security solutions. The high volume and sophistication of advanced email attacks has caused significant cybercrime losses, with business email compromise losses alone amounting to nearly $2.4 billion in 2021.
The move to hybrid work fueled by the global pandemic has driven security leaders to rethink cybersecurity strategies to better protect their modern workforce. With this round, the 4-year-old company is now valued at $4 billion.
#MATTERMOST VALUATION SOFTWARE#
SAN FRANCISCO, Abnormal Security, the leading AI-based cloud-native email security platform, announced today the close of a $210 million Series C round of financing led by global software investor Insight Partners, with participation from Greylock Partners and Menlo Ventures.
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