SECURITY
SECURITY
SECURITY
ZeroFox raises $74M to combat deepfakes and other cybersecurity threats beyond hacking
Malware and network breaches aren’t the only cybersecurity threats enterprises have to worry about these days. There are numerous other risks online, from spear-phishing emails to deepfakes, that can potentially pose just as big a problem for a company as a hacked server.
Baltimore-based ZeroFox Inc. has built its business on combating these kinds of threats. The startup, whose namesake cloud solution is designed to protect companies’ “public attack surface,” today announced that it has raised a $74 million funding round led by Intel Capital.
Existing backers New Enterprise Associates, Highland Capital Partners, Redline Capital Management, Hercules Capital and Core Capital chipped in as well. The round brings ZeroFox’s total outside funding to more than $150 million.
According to the startup, its platform finds threats by analyzing “millions” of pieces of content every day across channels such as social media platforms, GitHub, Slack and mobile app stores. An artificial intelligence engine combs through the data to isolate items that might be of interest to a company’s security team. The types of threats ZeroFox can detect include tweets containing malicious links, phishing emails, deepfakes targeting employees, attempts to take over a company’s social media profiles and incidents where sensitive business data is leaked onto the public web.
The startup says its platform has been adopted by thousands of organizations worldwide. Notable users include CBS News, Hootsuite Media Inc. and Hawaii National Bank.
ZeroFox Chief Executive Officer James Foster said that “with this new infusion of capital, we will accelerate our AI innovation, strengthen our intellectual property, and further our international expansion.”
Intel Corp., the lead investor in ZeroFox’s $74 million round, is a prolific backer of cybersecurity startups. The chipmaker participated in the $200 million round that threat protection unicorn SentinelOne Inc. announced on Wednesday and last month joined a $15 million investment into Integer Ltd., an Israeli startup that provides malware detection technology.
Photo: ZeroFox
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