Doppel Secures $35M Funding to Enhance AI-Driven Digital Risk Management Platform
In a significant move for the cybersecurity landscape, AI-powered company Doppel has successfully raised $35 million in a Series B funding round. This funding aims to enhance its social engineering defense platform tailored for enterprises, marking a pivotal step in the fight against digital threats.
Funding Details and Company Valuation
The latest funding round was spearheaded by Bessemer Venture Partners, with contributions from 9Yards Capital, Sozo Ventures, and existing investors such as a16z, South Park Commons, Strategic Cyber Ventures, Script Capital, and Sabrina Hahn. Following this round, Doppel’s valuation has surged to $205 million, bringing its total funding to $54.4 million.
Doppel’s Mission and Innovations
Doppel specializes in combatting various digital threats, including phishing, deepfakes, and brand impersonation. Its flagship platform, Doppel Vision, effectively identifies and neutralizes attacker infrastructure across multiple channels such as:
- Domains
- Social Media
- Applications
This innovative platform combines the power of large language models (LLMs) with expert human analysis to offer real-time protection for enterprises.
Plans for Growth
With the newly acquired funds, Doppel aims to enhance its platform and cater to the increasing demand from enterprises. Since its Series A round in January 2024, the company has experienced remarkable growth:
- 400% increase in enterprise customers
- 3X growth in annual recurring revenue
- 8X expansion in revenue
Expert Opinions on Doppel’s Potential
Elliott Robinson, a partner at Bessemer Venture Partners, noted, “Doppel is quickly emerging as the market-leading social engineering defense company by leveraging its proprietary AI-powered approach, which is critical in today’s environment as threats become increasingly sophisticated for corporations, brands, executives, and employees.”
CEO Statement on Future Directions
Doppel’s CEO, Kevin Tian, expressed enthusiasm about the partnership with Bessemer, stating, “We’re excited to collaborate with a firm that understands the nuances of building a generational, category-defining company. These funds will allow us to focus on our core products, address the rapidly growing demand from enterprises across various sectors, and establish the first dedicated social engineering defense platform.”
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