Venture capitalists bet on Sublime, a startup bringing AI to email security
Generative artificial intelligence has helped hackers craft personalized emails more quickly. Now startups are using the technology to block attacks.
Across the world, companies rely on Microsoft and Google to administer email accounts for employees. Keeping all those mailboxes secure, however, is a business opportunity.
Proofpoint went public in 2012, and as enterprises migrated to the cloud, many adopted the company's secure email gateway software as a precautionary measure. But private equity firm Thoma Bravo bought Proofpoint in 2021, and another provider, Mimecast, went private in 2022.
Then generative artificial intelligence took off. The trending technology gave more ammunition to hackers, as well as new tools for security companies that promise to defend clients against attacks.
Now, a new set of companies are gaining traction in a mature market.
Investors valued startup Material Security at $1.1 billion in a 2022 funding round. In August, Abnormal Security, which calls itself "AI-native," said it was worth $5.1 billion after a funding round involving CrowdStrike and Wellington Management. And on Thursday, Sublime Security, co-founded by U.S. Defense Department cybersecurity veteran Josh Kamdjou, said it had raised a round totaling $60 million.
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