Company Profile is an initiative by ListMyStartUp to publish verified information on different startups and organizations. The content in this post has been approved by Abnormal Security.
Compromised business email has become one of the top cybersecurity threats in this digital age. The battleground for cybersecurity has now shifted and is driven by cloud, remote work, and digital transformation. According to the FBI, companies have suffered an estimated loss of $43 billion worldwide since June 2016 due to email attacks.
With such a huge figure of loss, enterprises are considering partnering with cybersecurity companies that can shield them from email attacks. Abnormal Security is one such email security company established to protect enterprises from targeted email attacks.
Let’s uncover its journey so far including some important aspects like startup story, founders, funding, achievements, future plans, etc.
Abnormal Security – Company Highlights
- Company Name-Abnormal Security
- Headquarters-San Francisco, California, United States
- Primary Industry-Cybersecurity
- Founders-Evan Reiser and Sanjay Jeyakumar
- Founded In-2018
Abnormal Security - About
Set up in 2018, Abnormal Security uses an AI-based cloud-native email security platform that relies on behavioral data science to prevent socially engineered and other types of email attacks that can potentially evade secure email gateways of organizations. The identity of company employees and external senders is mirrored by Abnormal Behavior Technology (ABX).
The company is backed by Greylock Partners, a Silicon Valley-based venture capital firm. It protects over 5% of the Fortune 1000, including Urban Outfitters, Royal Caribbean, Xerox, and Groupon.
Abnormal Security - Founder and Team
Evan Reiser and Sanjay Jeyakumar are the founders of the company.
- CEO and co-founder of Abnormal Security, Evan Reiser graduated from Rensselaer Polytechnic Institute with a degree in BS, Computer Systems, and Computer Science. Recently, he led product and machine learning teams at Twitter after co-founding Bloomspot and AdStack.
- CTO, Head of R&D, and co-founder of Abnormal Security, Sanjay Jeyakumar, graduated from Stanford University with a degree in MS, Computer Science. He previously was a founding engineer at TellApart and lead engineer at Google.
Abnormal Security - Startup Story
- Abnormal Security’s founders knew that addressing the cybersecurity threat landscape was never going to be easy. So, they undertook an unconventional approach to the traditional cybersecurity models and came up with Abnormal Security by using their experience in behavioral modeling from the AdTech industry. The main idea behind setting up Abnormal security was to transform the traditional security system. It reimagined how cloud email can be secured against sophisticated attacks.
Abnormal Security - Mission and Vision
- Abnormal Security’s mission is to protect customers from all types of email attacks. It’s working on helping it's VARS sell and earn more on each scale, with the integration of premium quality and high-margin solutions with its services.
Abnormal Security - Business Model
- The cloud-native architecture of Abnormal Security operates via one-click, API-based G Suite and Office 365 integration without disrupting the email flow of enterprises. The understanding of an enterprise is established by clearly analyzing its employees and supply chain.
- The platform employs a data science approach and behavioral AL to provide resources for detecting, protecting, and responding to emails. It consolidates data across multiple channels into one platform for in-depth analysis and provides multi-tenant and cross-platform protection.
- Moreover, Abnormal Security’s platform co-exists with existing cybersecurity tools without interference, allowing enterprises to leverage the available information through the search Microsoft APIs.
Abnormal Security - Products and Services
- The company offers cloud email security through multiple products and these are Inbound Email Security, Email Account Takeover Protection, Abuse mailbox Automation, Email Productivity, and Security Posture Management.
- Furthermore, organizations can eliminate the broadest spectrum of threats via Abnormal Security's services – Credential Phishing, Business Email Compromise, Invoice and Payment Fraud, Supply Chain Compromise, Malware and Ransomware, and Spam and Graymail, Cloud Account Takeover.
Abnormal Security - Funding and Investors
- Over 3 funding rounds, Abnormal Security has been able to raise a total of $285 million. Moreover, the company’s latest funding round - Series C Round was undertaken on May 10, 2022, in which it raised a total of $210 million. Some of its main investors are Insight Venture Partners, Greylock, and Menlo Ventures.
Abnormal Security - Subsidiaries
- Headquartered in San Francisco, Abnormal Security has regional offices located in the United Kingdom, Australia, Canada, New Zealand, and Singapore.
Abnormal Security - Patents and Trademarks
- Talking about intellectual property, the company currently has 20 registered patents, primarily in the category of ‘Computing’ and ‘calculating.’ In addition to this, it has 9 registered trademarks categorized into the ‘Scientific and technological services’ class.
Abnormal Security - Partners
The company’s main partners are:
- Cortex XSOAR
- Azure Active Directory
Abnormal Security - Growth
- The subscription revenue growth in 2021 was reported to be 4x with a 98% customer retention rate. Since the company’s annual revenue is to be estimated at $127.5 million per year ($259,080 per employee) in 2022, Abnormal Security’s current valuation stands at $4 billion. Moreover, its employee count increased by 151% last year.
Abnormal Security - Awards and Achievements
Within almost 4 years of its inception, Abnormal Security has made a unique place in the cybersecurity industry by earning prestigious awards.
- Top startups for the enterprise by CNBC 2022
- Excellence Awards 2022 by search Microsoft Intelligent Security Association
- Forbes 2022 America’s Best Startup EmployersEnterprise Tech 30
- Best-of Email security by Expert Insights
- Women to Watch (Nicole Jiang – Director of Product & Design) by Women in IT Security
- Inc. Best Workplaces 2022
- Recognized as one of the 100 Innovative Cybersecurity Companies by Expert Insights
Abnormal Security - Competitors
With the company operating in a highly competitive industry, some of its competitors are:
Abnormal Security - Future Plans
- Abnormal Security plans to invest its funding to enhance its machine-learning artificial intelligence capabilities and target the market across the world for email security.
- Moreover, the company will invest in its AI-based automation capabilities, including Abuse Mailbox automation and personalized user experience. It plans to expand the company’s footprints into existing and new ones and also make it public in the coming years.
When was Abnormal Security founded and by whom?
- Abnormal Security was founded in 2018 by Evan Reiser and Sanjay Jeyakumar.
What is the mission of Abnormal Security?
- Abnormal Security’s mission is to protect customers from all types of email attacks.
What funding has Abnormal Security received to date?
- Abnormal Security has been able to raise a total of $285 million. Some of its main investors are Insight Venture Partners, Greylock, and Menlo Ventures.