DTEX Systems Secures $50M in Series E Funding
March 10, 2024, 7:53 pm
DTEX Systems, the global leader in insider risk management, has successfully closed a $50 million Series E funding round. CapitalG, the growth fund of Google's parent company Alphabet, led the investment, bringing DTEX Systems' total funding to $138 million. The funding will fuel the expansion of the company's U.S. engineering team and global go-to-market operations, advancing its mission to proactively safeguard organizations from insider threats.
DTEX Systems empowers organizations to prevent data loss and maintain a trusted workforce by identifying and mitigating insider risks before they escalate. Through its InTERCEPT™ platform, DTEX combines data loss prevention, user behavior analytics, and user activity monitoring to detect and address insider threats efficiently. By leveraging AI/ML and behavioral indicators, DTEX enables scalable insider risk management without compromising employee privacy or network performance.
The funding round will further propel DTEX's momentum and accelerate its application of large language models (LLMs) and behavioral science research to revolutionize the insider risk management market. Over the past year, DTEX has achieved significant growth, doubling its ARR growth rate and securing major deals across various industries, including finance, healthcare, technology, and government agencies.
To support its rapid expansion, DTEX has strengthened its leadership team with the appointment of Marshall Heilman as CEO, Rajan Koo as CTO, and Dave Salverson as CFO. The company's commitment to leveraging behavioral science to enhance security risk posture has enabled global enterprises to develop proactive insider risk management strategies while respecting employee privacy.
The recent launch of DTEX Ai3 Risk Assistant, powered by generative AI, further enhances the capabilities of the InTERCEPT platform, simplifying complex insider risk tasks and enabling more effective safeguarding of digital assets. The additional funding will enable DTEX's engineering team to explore new avenues for platform enhancement and deliver increased ROI for customers.
James Luo, partner at CapitalG, expressed confidence in DTEX's innovative approach to mitigating insider risks and highlighted the company's success in the market. Marshall Heilman, CEO of DTEX Systems, emphasized the critical importance of addressing insider risks for organizations and governments, underscoring the company's commitment to leading the Insider Risk Management space with the support of CapitalG.
In a landscape where insider risks pose significant threats to security and privacy, DTEX Systems stands out as a pioneering force in proactive insider risk management, poised for continued growth and impact in the cybersecurity realm.
DTEX Systems empowers organizations to prevent data loss and maintain a trusted workforce by identifying and mitigating insider risks before they escalate. Through its InTERCEPT™ platform, DTEX combines data loss prevention, user behavior analytics, and user activity monitoring to detect and address insider threats efficiently. By leveraging AI/ML and behavioral indicators, DTEX enables scalable insider risk management without compromising employee privacy or network performance.
The funding round will further propel DTEX's momentum and accelerate its application of large language models (LLMs) and behavioral science research to revolutionize the insider risk management market. Over the past year, DTEX has achieved significant growth, doubling its ARR growth rate and securing major deals across various industries, including finance, healthcare, technology, and government agencies.
To support its rapid expansion, DTEX has strengthened its leadership team with the appointment of Marshall Heilman as CEO, Rajan Koo as CTO, and Dave Salverson as CFO. The company's commitment to leveraging behavioral science to enhance security risk posture has enabled global enterprises to develop proactive insider risk management strategies while respecting employee privacy.
The recent launch of DTEX Ai3 Risk Assistant, powered by generative AI, further enhances the capabilities of the InTERCEPT platform, simplifying complex insider risk tasks and enabling more effective safeguarding of digital assets. The additional funding will enable DTEX's engineering team to explore new avenues for platform enhancement and deliver increased ROI for customers.
James Luo, partner at CapitalG, expressed confidence in DTEX's innovative approach to mitigating insider risks and highlighted the company's success in the market. Marshall Heilman, CEO of DTEX Systems, emphasized the critical importance of addressing insider risks for organizations and governments, underscoring the company's commitment to leading the Insider Risk Management space with the support of CapitalG.
In a landscape where insider risks pose significant threats to security and privacy, DTEX Systems stands out as a pioneering force in proactive insider risk management, poised for continued growth and impact in the cybersecurity realm.