ZeroFOX: This Attack Surface Protection Company Just Raised $74 Million

By Amit Chowdhry ● February 24, 2020
  • ZeroFOX — a global category leader in public attack surface protection — recently announced a $74 million round of funding led by Intel Capital

ZeroFOX — a global category leader in public attack surface protection — recently announced the closing of a new round of financing led by Intel Capital. The $74 million round of funding includes investments from existing investors NEA, Highland Capital Partners, Redline Capital Management, Hercules Capital, and Core Capital.

With this round of funding, the company is planning to accelerate its global expansion and advance its artificial intelligence capabilities. The business use of public platforms — like Microsoft 365, G Suite, LinkedIn, Facebook, Slack, Instagram, Apple, and Google mobile app stores, etc. — are becoming the primary success driver and number one enterprise risk challenge for modern organizations. And based on ZeroFOX’s 2019 Financial Services Digital Threat Report, digital threat activity for financial services has increased 56% year-over-year – with other industries facing similar challenges, including but not limited to the retail industry which deals with an average of over 6 brand abuses daily.

As a result, businesses struggle with the scale, complexity, and lack of visibility into threats such as account compromise, fraudulent profiles, business email compromise, and spear-phishing on digital platforms. And with unmatched visibility, detection, and remediation for these modern threats across digital platforms, and with next-generation AI analysis, including its Deepstar deepfake detection capability, the ZeroFOX Platform protects thousands of customers from dynamic security risks.

In analyzing millions of content pieces per day, ZeroFOX protects hundreds of thousands of digital brands and accounts by providing full attack and incident identification, threat intelligence, and automated policy-based remediation and action on a global scale.

ZeroFOX’s artificial intelligence capabilities run on Intel Xeon Scalable Processors and has integrated the Intel Distribution of OpenVINO toolkit — which accelerates threat detection, remediation and analysis. And ZeroFOX has also collected top industry awards like Red Herring Top 100 North America, the SINET16 Champion, Dark Reading’s Top Security Startups to Watch, Best of Black Hat and the Security Tech Trailblazer of the Year.

Key Quotes:

“ZeroFOX is dedicated to helping customers proactively address threats initiated by today’s cyber agitators that occur across a quickly growing publicly-accessible attack surface. This new class of threats is more difficult to identify and even tougher to remediate. The challenges of both volume and sophistication of these types of attacks are accelerating at a pace that the security industry has never seen before; entire businesses and industries are at risk due to the gaps in security coverage unaddressed by legacy security vendors. This round of funding led by Intel Capital, one of the most respected investors in the world, and our new artificial intelligence development partnership with Intel via the Intel AI Builders program, solidifies ZeroFOX’s market leadership in next-generation protection. With this new infusion of capital, we will accelerate our AI innovation, strengthen our intellectual property, and further our international expansion – all in service of our mission: protecting the world’s leading organizations from targeted digital attacks.”

– James C. Foster, CEO of ZeroFOX

“ZeroFOX has established itself as the global leader in the public attack surface protection marketplace. The company’s best-in-class SaaS platform, AI capabilities and exceptional business profile are a testament to the unquestionable value it delivers to customers. We’re looking forward to collaborating with the company to accelerate its strategic expansion globally and its compelling technology roadmap.”

– Anthony Lin, vice president and senior managing director at Intel Capital