The CEO of Deep Instinct, which just raised $43 million, explains why he he's committed to a cybersecurity IPO instead of selling out
But Deep Instinct CEO and co-founder Guy Caspi says he wants his startup to go down a different route. While many of the traditional cybersecurity companies couldn't survive and address new challenges, Deep Instinct focuses on stopping attacks before they happen. Previously, he says the security market mostly focused on reacting to attacks.
With the funding, Deep Instinct plans to grow the company in sales, marketing, and hiring. Right now it has about 150 people, and it plans to recruit an additional 100 people. Deep Instinct was founded about five years ago by Caspi, CTO Nadav Maman, and chief scientist Eli David, who all come from cybersecurity backgrounds. Today it now has several products for securing phones, operating systems, and computer networks.
To identify and stop attacks, Deep Instinct uses deep learning, a field of machine learning that allows a computer program to imitate how a human brain works to learn and identify patterns. "When we came, the current approach of detection and response is also losing confidence as the landscape is escalating," he says.Last year was a turning point for the cybersecurity market, Caspi says, when companies started focusing more on prevention. Still, it was difficult to convince the market two to three years ago, he says.
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