AI Company Dropzone Secures $37 Million in Series B Funding for Developing Advanced Security Analysts
Dropzone AI, a leading AI-based cybersecurity company, has announced that it has raised $37 million in a Series B funding round. The funding round was led by Theory Ventures, with participation from Madrona, Decibel Ventures, Pioneer Square Labs, and IQT.
The new funding will be used to support global expansion, develop additional autonomous AI Security Operations Center (SOC) agents, and deepen ecosystem partnerships to enhance threat detection, operational efficiency, and return on investment for security teams.
"Dropzone has pulled ahead of the pack in the AI SOC market," said Tomasz Tunguz, General Partner at Theory. "Their platform is revolutionizing the way SOCs operate, and we are excited to be a part of their journey."
Edward Wu, Founder and CEO of Dropzone AI, stated that the company's goal is to drive a generational shift in cybersecurity and level the playing field for cyber defenders. "With this new funding, we will be able to accelerate our efforts and shape what's next in AI-native security platforms."
Dropzone AI's solution enhances security for over 100 enterprises, including UiPath, Zapier, Pipe, Mysten Labs, and Assala Energy. The company's AI SOC team has been validated by some of the world's largest enterprises and Managed Security Service Providers (MSSPs).
The new funding will also be used to expand global sales, marketing, and customer success teams, as well as to further accelerate Dropzone's efforts and shape what's next in AI-native security platforms.
Dropzone AI's platform autonomously investigates security alerts, delivering detailed, high-fidelity alerts within minutes. The company's AI-based approach reduces security risks, operational costs, and analyst burnout.
CBTS, a US-based IT solutions provider, utilizes Dropzone AI to offload 30-50% of its alert volume, freeing up human analysts for proactive security work. Dropzone's sales have taken off as they've established their position as a trusted category leader.
The company has received recognition from analyst firms like Gartner and Forrester. Andrew Marsh, Director of Information Security at Indiana Farm Bureau Insurance, stated that Dropzone AI's rapid processing and accuracy significantly elevates threat response capabilities.
In summary, Dropzone AI's Series B capital is strategically allocated to expand their market presence, enhance the capabilities and specialization of their AI security agents, and build stronger partnerships across the cybersecurity ecosystem to transform how SOCs operate worldwide.
[1] Dropzone AI. (2022). Dropzone AI Raises $37 Million in Series B Funding to Scale AI-Native Security Platform. [Press release] [2] VentureBeat. (2022). Dropzone AI raises $37 million to improve security operations for enterprises. [Article] [3] TechCrunch. (2022). Dropzone AI raises $37 million to automate security operations for enterprises. [Article] [4] GeekWire. (2022). Dropzone AI raises $37 million to automate security operations for enterprises. [Article]
- Dropzone AI, being a pioneer in AI-based cybersecurity that has raised $37 million in Series B funding, aims to widen their global reach, develop additional autonomous AI Security Operations Center agents, and deepen ecosystem partnerships with technology providers.
- The new funding for Dropzone AI will also be invested in expanding their sales, marketing, and customer success teams, with the goal to revolutionize technology in cybersecurity on a global scale.
