Depthfirst AI Cybersecurity Funding Reaches $120 Million, Valued at $580 Million

AI cybersecurity firm Depthfirst has secured $120 million in funding. This notable Depthfirst AI cybersecurity funding round brings its company valuation to $580 million. The company aims to build “General Security Intelligence” to defend against malicious AI and find software vulnerabilities.

This capital infusion will fuel the development of models for autonomous vulnerability detection. The funding supports Depthfirst’s mission to enhance digital security.

What Happened

Depthfirst recently announced an $80 million Series B funding round. This follows a $40 million Series A round completed just two months prior. The combined capital now totals $120 million in Depthfirst AI cybersecurity funding.

The company’s current valuation stands at $580 million. Investor Arsham Memarzadeh from Meritech led this significant Series B round.

Details From Sources

Depthfirst’s Technology and Mission

Depthfirst is actively developing “General Security Intelligence” to find vulnerabilities and suggest fixes in software, Forbes reports. The company’s mission is to ensure complex and fragile systems can sustain a world where AI hacking capabilities are “superhuman,” according to Depthfirst’s CTO, Michi, speaking to Forbes.

The startup is launching its first in-house model, dfs-mini1, this week. This model is designed to autonomously detect security weaknesses in crypto smart contracts, Forbes notes. Depthfirst trains its AI security models using reinforcement learning. Agents learn through trial and error by finding smart contract vulnerabilities in virtual environments, Forbes reports.

Smart contracts were chosen as a starting point because a vulnerability can lead to loss of funds, Michi told Forbes. Michi believes building models from the ground up for specific purposes is more efficient than adapting large language models (LLMs). The company claims building models from scratch is cheaper since they control power requirements and avoid third-party model fees, Forbes reports.

Market Opportunity and Investor Perspective

Investor Arsham Memarzadeh of Meritech sees Depthfirst as well-positioned to dominate the $18 billion application security market, Forbes reports. This market focuses on protecting applications. Memarzadeh draws a parallel to Wiz’s success in cloud security, believing Depthfirst has the talent and technology to replicate it, he told Forbes. To build a large, enduring cybersecurity business, a company needs to “own one of the key threat vectors,” Memarzadeh told Forbes.

Company Growth and Customers

Depthfirst is a two-year-old company. Its revenue has grown 300% over the last two quarters, Qasim Mithani, CEO and cofounder, told Forbes. Depthfirst currently serves more than 20 customers. These include multinational corporations and AI startups like Lovable, Mithani told Forbes.

Why This Matters

This cybersecurity startup funding highlights significant investor confidence in Depthfirst’s approach. The focus is on “General Security Intelligence” and autonomous vulnerability detection. The company targets the $18 billion application security market, suggesting potential for significant impact.

This strategy aims to protect apps from evolving AI threats. Depthfirst’s efforts counter a future where AI hacking capabilities are “superhuman,” Michi, CTO, noted to Forbes.

Background Context

Founding and Founders

Andrea Michi, Depthfirst’s CTO, cofounded the company in 2024. He previously spent nearly seven years at Google’s Deepmind, Forbes reports. At Deepmind, Michi focused on developing AI models for energy performance. Qasim Mithani, CEO and cofounder, was previously head of infrastructure security at Databricks. Daniele Perito, the third cofounder, served as an ex-cybersecurity chief at Block, Forbes notes.

Company’s Philosophy

Depthfirst applies a philosophy of building AI models from the ground up. These models are developed with a specific purpose. This approach differs from adjusting large language models (LLMs) for security tasks, Forbes reports.

Industry Reactions

Investor Arsham Memarzadeh of Meritech led the Series B round. This demonstrates considerable investor confidence in Depthfirst. Memarzadeh believes Depthfirst can dominate the application security market. He also sees the potential for the company to replicate the success of firms like Wiz, Forbes reports.

Related Data or Statistics

• Total funding raised: $120 million ($80 million Series B, $40 million Series A)
• Company valuation: $580 million
• Application security market size: $18 billion
• Revenue growth: 300% over the last two quarters
• Customer count: More than 20

Future Implications (SPECULATIVE)

Depthfirst plans to develop more AI security models. These will cover additional verticals beyond smart contracts, Mithani told Forbes. The company’s goal is to build AI capable of performing many tasks currently handled by cybersecurity teams. This aims to augment existing staff rather than replace them, Michi stated to Forbes.

The ambition is to find and fix vulnerabilities in any kind of software. This would occur before malicious, superintelligent AI could exploit them, Michi told Forbes.

Conclusion

Depthfirst’s significant funding and valuation underscore its role in advanced AI-driven cybersecurity. The company focuses on autonomous vulnerability detection and “General Security Intelligence.” This development has broader implications for the evolving cybersecurity landscape.

FAQ Section

• Q1: How much funding has Depthfirst raised recently?
• A1: Depthfirst has secured $120 million in funding, including an $80 million Series B round and a $40 million Series A.
• Q2: What is Depthfirst’s company valuation?
• A2: Depthfirst is currently valued at $580 million.
• Q3: What is “General Security Intelligence” that Depthfirst is developing?
• A3: “General Security Intelligence” refers to AI models designed to autonomously find vulnerabilities and suggest fixes in software, similar to how general artificial intelligence refers to AI as capable as humans at general tasks.
• Q4: What is Depthfirst’s first in-house model designed to do?
• A4: Depthfirst’s first in-house model, dfs-mini1, is designed to autonomously detect security weaknesses in crypto smart contracts.
• Q5: Who are the cofounders of Depthfirst?
• A5: The cofounders of Depthfirst are Andrea Michi (CTO), Qasim Mithani (CEO), and Daniele Perito.