Email security solutions provider Abnormal Security on Wednesday announced raising $50 million in a Series B funding round, which brings the total raised by the company to $75 million.
The funding round was led by Menlo Ventures, and the company says it plans on using the money to double the size of its machine learning and data science teams.
Abnormal Security emerged from stealth mode exactly one year ago with $24 million in funding. The company provides a cloud email security platform designed to help organizations protect against email attacks, account compromise and supply chain attacks. It also provides incident response capabilities and protection for Microsoft Teams users.
The company says its platform uses AI to analyze people, relationships and business processes in an effort to identify threats.
Abnormal claims its annual recurring revenue has tripled year-over-year and so has its Fortune 500 customer base, driven by organizations being increasingly concerned about email security as their employees work remotely.
“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.”
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