Behavior analysis and AI training tools companies raise millions in funding
GoSecure has raised $20 million in Series E funding to accelerate the growth of its behavior-based predictive platform for Managed Detection and Response (MDR) across North America.
The funding round was led by Yaletown Partners, with Bank of Montreal and existing investors SAP/NS2 and Razor’s Edge participating.
Industry analysts forecast that 40 percent of mid-market organizations will adopt MDR within the next five years, according to the company announcement. Strong growth before the pandemic has been followed by even more interest with organizations increasingly operating mobile workforces.
“With over 2,000 customers, GoSecure is the most effective and trusted MDR company in North America,” states Neal Creighton, GoSecure CEO. “Some of the most sophisticated customers in Government and finance trust GoSecure. While competitors like CrowdStrike continue to stress their Next-Gen AV as the next cybersecurity evolution, GoSecure is already delivering sophisticated MDR services that are protecting customers of all sizes.”
Creighton says GoSecure’s MDR customer base has grown by 425 percent in the past two years. There are currently 200 GoSecure employees in Montreal, Quebec and San Diego, California.
“GoSecure has evolved over the last three years from a differentiated EDR software company into a full suite, full-service cyber security company with a world class management team. We are pleased to further accelerate the company’s already impressive growth trajectory with this transformative round and the success of our joint solution offerings,” says Drew Drake, vice president of Strategic Investments for SAP NS2 in the press release.
RealityEngines.AI has raised $13 million in Series A funding, and announced that it is rebranding as Abacus.AI, TechCrunch reports. The company provides deep learning data and model training to help companies implement new technologies without AI expertise.
Index Ventures’ Mike Volpi led the funding round, and will join Abacus.AI’s board. Other participants in the round include Mariam Naficy, Erica Shultz, Neha Narkhede, Xuezhao Lan and Jeannette Furstenberg and Decibel Partners. Abacus.AI was co-founded by former AWS and Google executive Bindu Reddy.
Abacus.AI counts 1,200 beta testers among its employees, who have recently focused on helping customers bring machine learning models into production. The company’s suite of solutions was recently expanded to include new unsupervised learning tools. Along with its automatic training dataset building tools, Abacus.AI has also released tools to detect and mitigate bias in datasets.
Customers only pay Abacus.AI once they put their models into production.
The funds will be used in part to grow Abacus.AI’s team from 22 employees to around 35 by the end of 2020.