PayPal to invest in threat prevention developer

PayPal is set to invest in threat prevention developer, Deep Instinct, which is the first organisation to apply deep learning to cybersecurity.

PayPal Ventures joins existing investors which includes Black Rock, Chrysalis Investments, Millennium, Unbound, Untitled Investments, The Tudor Group and Coatue Management.

Deep Instinct claims to have the unrivalled ability to sense out cyber threats well before other, more conventional solutions can.

Its growth is driven by its disruptive threat prevention technology, with PayPal’s investment aims to help accelerate its expansion.

“Deep Instinct has developed an industry leading threat prevention platform that allows enterprises to get ahead of cybercriminals and malicious threats,” PayPal Ventures partner Alan Du said.

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“We’re thrilled to invest in Deep Instinct and believe the company will help move the cybersecurity industry beyond its current detection and remediation focus to a prevention first model.”

Deep Instinct CEO Lane Bess added: “We are excited that PayPal Ventures see the market potential of using deep learning to safeguard against cybercriminal activity by immediately preventing even the most advanced attacks.”

“With the support of our investors, I am convinced that the future of cybersecurity is on the cusp of a long awaited change inspiring every enterprise to adopt a prevention first strategy.”

Deep Instinct currently operates across North America, Europe and the Asia Pacific region and it tripled its customer base in 2022.

PayPal Ventures is the venture capital arm of the FinTech giant PayPal.



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