According to Jin10 Data, Xbow, a startup building AI software to detect application security vulnerabilities, has completed a new funding round with a valuation exceeding $1 billion, reflecting investor enthusiasm for applying AI to cybersecurity. Xbow announced on Wednesday that DFG Growth and Northzone led the $120 million funding round. Other participants include Alkeon Capital and Sofina, along with existing investors Sequoia Capital, Altimeter Capital, and NFDG. The startup currently has approximately 150 employees and expects to reach several hundred by year-end. Xbow’s CEO de Moor said the company already serves over 100 clients, including Moderna and Samsung Electronics, and has seen strong demand in South Korea.
AI security startup Xbow reaches a valuation of over $1 billion
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Summary
AI security startup Xbow has reached a valuation of over $1 billion following a $120 million funding round. DFG Growth and Northzone led the investment, joined by Alkeon Capital, Sofina, and existing investors including Sequoia Capital and Altimeter Capital. The company, which uses AI to detect security breaches, currently employs 150 people and plans to double its workforce by the end of the year. CEO De More said the company now serves more than 100 clients, including Moderna and Samsung Electronics, with strong demand for AI and crypto-related solutions in South Korea.
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