The investment round led by Norwest Venture Partners will enable Intezer, following a year of 400% customer growth, to further develop its AI-based security operations solution
Intezer, a leader in AI-powered technology for autonomous security operations, today announced that it has raised $33 million in Series C funding, bringing its total capital raised to $60M. The funding round was led by Norwest Venture Partners, with participation from all existing investors, including Intel Capital, OpenView, Magma, and Alon Cohen, founder of CyberArk. With these funds, Intezer will expand its go-to-market and product teams to strengthen its position as a leader in the emerging AI SOC market category.
“I know what it’s like to work in SOC and incident response teams, while every day you have too much work, too many alerts, and not enough people. That’s how I became obsessed with helping security teams facing resource shortages. That’s why we built Intezer, with a mission to arm security professionals with AI and automation to virtually extend their capacity by 10x,” said Itai Tevet, CEO and co-founder of Intezer. “This investment accelerates our growth and strengthens our leadership position in the new, exciting category of AI SOC platforms.”
According to the World Economic Forum, nearly four million workers are needed to fill the talent gap in the cybersecurity industry, with 71% of organizations having unfilled cybersecurity positions. Meanwhile, the attack surface expands every day with more devices and connections, generating more alerts for SOC teams to investigate, sifting through false positives to catch real cyber attacks.
Intezer’s Autonomous SOC platform uses unique AI models to simulate human analysts’ decision-making process, effectively functioning as an extension of the security team. Intezer integrates with the customer’s existing security tools to automatically investigate endpoint alerts, SIEM alerts, user-reported phishing, and more. Intezer’s platform triages new alerts in two minutes, automatically resolves false positives, and escalates only 4% of alerts to the SOC team with clear findings and recommended incident response actions, leading to faster response times for critical threats.
“Intezer is solving a major and widely recognized problem that virtually every enterprise and security service provider faces – the shortage of skilled staff. Their platform is a proven technology, validated by many happy customers, in a large and growing market,” said Dror Nahumi, General Partner, Norwest Venture Partners. “We look forward to working with co-founders, Itai and Roy, and their team as they continue to scale the company and further develop a much-needed product for security teams.”
“I’ve looked at a lot of security solutions over the years and the results from Intezer’s AI-driven alert triage are actually amazing,” said Branden Newman, CTO of MGM Resorts International. “Intezer integrates with all the modern security platforms, so teams have every alert fully investigated while enabling a fast time to respond. This technology is transformative for the efficiency and effectiveness of security operations.”
The announcement today comes while the Intezer team is in Las Vegas, as a proud sponsor of CrowdStrike’s Fal.Con 2024 conference – visit booth #1408 at the Aria Resort & Casino to get a demo in person today or tomorrow, September 18. To schedule a demo for another time, visit intezer.com/get-a-demo/
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