Deep Instinct, a New York-based threat-prevention technology company, raised $62.5M in funding.
The round was led by BlackRock, with participation from Chrysalis Investments, Millennium, and Unbound.
The company intends to use the funds to further penetrate the market.
Led by Lane Bess*, former Palo Alto Networks CEO and Zscaler COO, who is taking over as CEO, effective immediately, Deep Instinct takes a prevention-first approach to stopping ransomware and other malware using a purpose-built, deep learning cybersecurity framework. The Deep Instinct Prevention Platform adds to every security stack—providing multi-layered protection against threats across hybrid environments.
Bess has more than 35 years of experience in cybersecurity and technology with a proven track record of leading rapidly growing cybersecurity companies. He was formerly CEO of Palo Alto Networks for several years before its IPO. After that, he took on the role as COO of Zscaler where he partnered with founder Jay Chaudhry to lead the rapid scaling of the company up until its successful IPO.
As part of this leadership change, Guy Caspi, the company’s co-founder and former CEO, succeeds Lane Bess as Board Chair and is now the Chief Product Officer.