Leading company in the world of insider risk management, DTEX Systems, has secured a $50 million Series E fundraising round.
Leading company in the world of insider risk management, DTEX Systems, has secured a $50 million Series E fundraising round.
CapitalG, Alphabet's independent growth fund, spearheaded the investment, increasing DTEX Systems' total commitment to $138 million. The company plans to use this cash infusion to accelerate its worldwide go-to-market (GTM) operations and grow its U.S. engineering team.
The company's specialty is using behavioral science and AI to revolutionize the insider risk management industry. DTEX Systems wants to give businesses the resources they require to proactively defend against insider threats. Large language models (LLMs) and state-of-the-art behavioral science research are combined in their method to provide a novel and efficient insider risk management solution.
With this new funding, DTEX will be able to further strengthen its technological offerings and fulfill its purpose of safeguarding enterprises globally from insider threats. To upend the existing market environment, this entails extending the use of behavioral science and life cycle assessments (LLMs) in product creation. Over the course of the last year, DTEX has shown remarkable success, doubling its annual recurring revenue (ARR) growth rate and completing an unparalleled volume of high-value agreements.
"Our investment in DTEX comes at a time when enterprises worldwide are increasingly reprioritizing their security investments in order to address the costs and impact of insider risks," CapitalG partner James Luo said in response to the investment. In addition, the market is underserved by legacy technologies that do not offer insight into behavioral subtleties necessary for comprehending and effectively addressing insider threats, both purposeful and inadvertent.
DTEX is the most creative and successful solution available on the market, and it employs a unique strategy to mitigate insider dangers. We're excited to collaborate with the DTEX team to help the business advance into its next stage of expansion.
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