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AI security developer Dropzone AI has received a new round of funding, bringing in $16.85 million for its Series A. The round was led by Theory Ventures and included returning institutional investors Decibel Partners, Pioneer Square Ventures and In-Q-Tel.
Founded in 2023 by Edward Wu, Dropzone makes pre-trained autonomous AI security agents designed to aid humans in detecting cybersecurity threats. A talent pool shortage is one reason there are so many cyberattacks—it’s estimated that the world needs about four million workers to defend our digital infrastructure and computer systems properly. Dropzone believes it can solve this problem through the use of AI agents.
“With [generative AI] advancements, attacks that were previously complex and expensive will become easy and economical,” Wu told VentureBeat. “More than 99% of the cybersecurity teams do not have sufficient security resources to hire enough human security analysts to thoroughly investigate all security alerts 24/7. Breaches and incidents inevitably follow.”
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With its patented large language model (LLM) system replicating expert human analysts’ thought processes and techniques, Dropzone’s AI agents can help with “tier-1 security alert investigations for cybersecurity operation teams.” The company claims its bots can reduce the manual work of human analysts by 90%, reducing the time it takes to investigate alerts from up to 40 minutes to three minutes. These AI agents operate autonomously and require no playbook, code, or chat prompt.
“Dropzone combines a deep understanding of security operations with the most powerful AI systems in security,” Tunguz said in a statement. “Dropzone’s virtual analysts automate rote analytical security work to ensure stronger defenses against an increasing number of increasingly advanced AI attacks.”
The company reveals that in the short time it has been in the market, it has seen “a lot of proof-of-concept momentum” and is actively deployed in more than six production environments.
Combined with the $3.5 million raised last August, Dropzone has received more than $20 million in venture capital. Tomasz Tunguz, the founder of Theory Ventures, will join the board as part of this new investment. The company declined to provide its valuation. The fresh capital will help scale up Dropzone’s sales, marketing, engineering and customer success teams, with a special emphasis on hiring additional engineers and security analysts.
Updated on April 25 at 9:07 a.m. PT to correct in the headline the amount raised.
