Dropzone AI Raises $16.85 Million Series A to Equip Cyber Defenders With 24/7 Generative AI-powered Autonomous Investigations
25 Abril 2024 - 7:00AM
Business Wire
Theory Ventures leads funding round for
transformational GenAI-powered cybersecurity agents
Today, Dropzone AI, developer of AI security analysts for
security operations teams, announced it has raised $16.85M in
Series A funding. Theory Ventures led the round, adding to their
cohort of existing investors Decibel Partners, Pioneer Square
Ventures, and In-Q-Tel (IQT). Carta CISO Garrett Held, Head of
Security at Postman Joshua Scott, and Integreon President and Head
of Cyber Solutions Anshu Gupta also joined the Series A round.
Theory Ventures Founder Tomasz Tunguz will join the board as part
of its investment. Dropzone will use this new injection of capital
to continue scaling its GTM motion and its engineering team.
Cyber defenders worldwide are losing the war against attackers
due to a systemic lack of resources: there is a global shortage of
about 4 million cybersecurity workers. The issue is especially
severe among smaller organizations with limited budgets. Managed
security service providers (an $80 billion market) also have to
make tough trade-offs between quality and labor costs, leading to
compromised and inconsistent security coverage. In short: cyber
defenders cannot win the war against attackers on human brain power
alone.
Dropzone AI is the first AI SOC analyst to replicate the
techniques of elite human analysts. It autonomously investigates
alerts (including cloud, network, identity, endpoint, and phishing
alerts) 24/7, giving cybersecurity teams the ability to do vastly
more work with the same team. The Dropzone AI analyst reduces the
manual work of human analysts associated with alerts by 90% –
taking the task of investigating alerts from 5-40 minutes per alert
to 3 minutes to review reports on the most pressing threats.
Instead of being a copilot or chatbot that requires constant
prompting, Dropzone autonomously orchestrates tier-1 security alert
investigation end-to-end. It does not require any playbooks, code,
or chat prompts and can be deployed in 30 minutes. As a result,
analyst teams can focus on real threats and amplify their output.
Dropzone AI was recently named a finalist in the 2024 RSAC
Innovation Sandbox Contest, the youngest and the only Gen
AI-powered enterprise security technology in that cohort.
“Cyberdefenders are losing today and will face more challenges
when attackers leverage AI for more sophisticated attacks,” said
Edward Wu, founder and CEO at Dropzone AI. “Dropzone AI gives
defenders extra brainpower through AI reinforcements that tackle
the routine and time-consuming tasks of investigating alerts,
allowing SecOps teams to focus on the high-priority threats and
projects.”
“Dropzone combines a deep understanding of security operations
with the most powerful AI systems in security,” said Tomasz Tunguz,
Founder of Theory Ventures. “Dropzone’s virtual analysts automate
rote analytical security work to ensure stronger defenses against
an increasing number of increasingly advanced AI attacks.”
Critical Insight, a leading Managed XDR provider, is leveraging
Dropzone’s AI SOC analysts to improve the depth of its
investigations. Garrett Silver, CEO of Critical Insight notes, “The
use of Dropzone allows Critical Insight’s SOC analysts to
concentrate on the tasks that truly require human intelligence
while having Dropzone handle SOC tasks suited for AI. We’ve
measured and validated an increase in the speed and quality of
investigations. Critical Insight’s mission is to defend hospitals
and cities against cyberattacks. Speed and accuracy matters. Giving
our SOC analysts the right kinds of AI tools can save lives.”
“Dropzone gives you more accurate, more complete analyses of
investigation data. It leads to issue resolution in 10% of the
time, and it even gets better with use,” said Jonathan Jaffee, CISO
at Lemonade Insurance. “It will allow you to resolve more issues in
less time. And, it will increase your team's happiness and reduce
its burnout.”
“Dropzone goes beyond chatbots and copilots and delivers true
end-to-end autonomous investigations,” said William Morrison,
Principal at IQT. “IQT and our government partners are excited
about Dropzone’s innovative approach to leveling up cyber.”
Book a demo to learn more about Dropzone.
ABOUT DROPZONE
Dropzone AI delivers pre-trained autonomous AI analysts that
work alongside human analysts on security operations teams. It
handles the frontline work of investigating the mountain of alerts
from security systems. Using cutting-edge LLMs, Dropzone’s AI
analysts perform end-to-end investigations replicating the
techniques of elite analysts and enable human analysts to focus on
real threats and higher-value work. Founded by cyber defense and AI
expert Edward Wu, Dropzone is backed by Theory, Decibel, PSL,
In-Q-Tel, and renowned cybersecurity angel investors and
entrepreneurs: Oliver Friedrichs, Jon Oberheide, Jesse Rothstein,
Garrett Held, Joshua Scott, and Anshu Gupta. Learn more at
www.dropzone.ai.
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MEDIA Ali Moore ali@cmand.co