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- Abnormal AI
Abnormal AI Revenue, Valuation, Funding & Investors
Abnormal AI is valued at $5.1B as of August 2024, a 25.5x multiple on its last reported $200M revenue.
Last Abnormal AI valuation
$5.1B
Series D · Aug 2024
Last Abnormal AI funding round
$250M
Series D · Aug 2024
Abnormal AI revenue
$200M
Series D · Aug 2024
Key investors in Abnormal AI
Greylock
Menlo Ventures
Insight Partners
Wellington Management
Ballistic Ventures
CrowdStrike Falcon Fund
About Abnormal AI
Abnormal AI is a San Francisco-headquartered cybersecurity company providing an AI-native platform that analyzes human behavior to block email attacks and detect account compromises. It protects enterprises across email, cloud apps, and collaboration tools for clients including Fortune 500 firms.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$200M (Aug 2024)
Valuation
$5.1B (Aug 2024)
Abnormal AI Valuation
Abnormal AI is currently valued at $5.1B, based on its Series D in August 2024.
The $250M round was led by Wellington Management, with participation from Menlo Ventures, CrowdStrike Falcon Fund, Greylock and Insight Partners.
Abnormal AI's valuation has grown 10x from $500M at its Series B in November 2020 to $5.1B in August 2024, across 3 priced rounds.
Abnormal AI valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2024 | Series D | $5.1B | 25.5x |
| May 2022 | Series C | $4B | 20.0x |
| Nov 2020 | Series B | $500M | - |
Abnormal AI Revenue
Abnormal AI's latest recorded revenue is $200M, as of its Series D in August 2024. At a $5.1B valuation, that implies a 25.5x revenue multiple.
Revenue moved from $200M in May 2022 to $200M in August 2024, while the revenue multiple moved from 20.0x to 25.5x.
Abnormal AI revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2024 | $200M | $5.1B | 25.5x | Series D |
| May 2022 | $200M | $4B | 20.0x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Abnormal AI Funding History
Abnormal AI has raised a total of $534M across 4 funding rounds.
Abnormal AI's first fundraising round was a $24M Series A in November 2019. The most recent completed round was a $250M Series D in August 2024.
Abnormal AI funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2024 | Series D | Wellington Management (lead); Menlo Ventures; CrowdStrike Falcon Fund; Greylock; Insight Partners | $250M | $5.1B | Abnormal Security, an AI-native cybersecurity company founded in 2018, specializes in human behavior security to detect and prevent sophisticated attacks across email and connected applications like Microsoft 365, Google Workspace, Slack, Salesforce, and others. The platform uses machine learning and AI to analyze thousands of signals, baseline normal behavior, and autonomously stop anomalous activity with superhuman speed and accuracy. It protects over 2,400 organizations globally, including 17% of Fortune 500 companies such as Liberty Mutual, Xerox, Chipotle, ADT, Airbnb, and Moderna. On August 6, 2024, Abnormal Security closed a $250 million Series D funding round at a $5.1 billion post-money valuation, up 28% from its $4 billion Series C valuation in 2022. The round was led by Wellington Management, with participation from existing investors Greylock Partners, Menlo Ventures, Insight Partners, and CrowdStrike Falcon Fund, bringing total funding to $546 million. Proceeds will enhance the human behavior AI platform, support international expansion into Europe, Asia, and Australia, accelerate customer AI initiatives, and prepare for a potential public market debut. The company demonstrated strong traction, surpassing $200 million in annual recurring revenue (ARR) in five years with 100%+ year-over-year growth, doubling ARR recently. It is progressing toward FedRAMP compliance and positioning itself as a leader in addressing human-centric cybersecurity challenges amid rising AI-driven threats. CEO Evan Reiser emphasized relentless execution in protecting users, while Wellington's Rob Mazzoni highlighted Abnormal's market leadership potential and value to CISOs. |
| May 2022 | Series C | Insight Partners (lead); Menlo Ventures; Greylock | $210M | $4B | Abnormal Security (also referred to as Abnormal AI) is an AI-native cybersecurity company founded in 2018 that provides a cloud-native email security platform to detect and stop sophisticated attacks, account takeovers, and threats across email and connected SaaS applications like Microsoft 365, Google Workspace, Slack, Salesforce, and others using machine learning to analyze human behavior. On May 10, 2022, Abnormal Security raised $210 million in its Series C funding round led by Insight Partners, with participation from Greylock Partners and Menlo Ventures. The post-money valuation was $4 billion. The funding was intended to accelerate product development, support global expansion, and further invest in its AI-based email security platform. Abnormal has grown rapidly, securing over 2,400 customers including 17% of the Fortune 500 by 2024, with consistent 100%+ year-over-year ARR growth. The company continued raising capital, closing a $250 million Series D in August 2024 at $5.1 billion valuation led by Wellington Management, bringing total funding to approximately $546-557 million across four rounds. |
| Nov 2020 | Series B | Menlo Ventures (lead); Greylock | $50M | $500M | Abnormal Security, a next-generation email security company founded in 2018 and based in San Francisco, raised $50 million in its Series B funding round on November 18, 2020, led by Menlo Ventures with participation from early investor Greylock, bringing total funding to $75 million following a prior $24 million Series A in November 2019. The investment came amidst a 3x increase in its Fortune 500 customer base during 2020, with funds aimed at doubling down on its AI-based threat detection engine and scaling enterprise support, including ML and data-science teams to meet rapid customer growth and remote-work-driven demand. The company protects organizations from sophisticated email attacks like phishing and business email compromise (BEC) using AI to analyze human behavior signals and detect anomalous activity. Menlo Ventures partner Venky Ganesan highlighted the positive feedback from Fortune 500 customers on Abnormal's product innovation, velocity, and traction, positioning it as an essential cloud office security solution for CISOs. This round built on the company's early momentum, with Greylock having led the Series A to launch and commercialize its AI-powered email-security platform. Subsequent rounds included a $210 million Series C in May 2022 at a $4 billion valuation led by Insight Partners, and a $250 million Series D in August 2024 at $5.1 billion valuation led by Wellington Management, bringing total funding to $546 million (or $557 million per some sources). These later developments reflect Abnormal's growth in AI-native human behavior security, serving thousands of customers and preparing for potential IPO. |
| Nov 2019 | Series A | Greylock (lead); Ballistic Ventures | $24M | - | Abnormal AI (also referred to as Abnormal Security), founded in 2018 and headquartered in San Francisco or Las Vegas, develops an AI-native email security platform using behavioral AI and machine learning to detect sophisticated attacks like business email compromise, phishing, and account takeovers that bypass traditional tools. The platform protects Microsoft 365, Google Workspace, and extends to SaaS apps including Slack, Workday, Salesforce, ServiceNow, and AWS. It launched commercially around its Series A to build out the AI-powered human behavior security solution. The specific Series A round in November 2019 raised $24 million led by Greylock Partners, with Jake Seid likely participating as part of Greylock, aimed at launching the company and commercializing the platform. Subsequent rounds include Series B $50M in November 2020 led by Menlo Ventures with Greylock participation to scale teams amid customer growth; Series C $210M in May 2022 led by Insight Partners at an implied high valuation (later rounds reference $4B context); and Series D $250M in August 2024 led by Wellington Management at $5.1B valuation, bringing total funding to ~$546-557M across 4-7 rounds. By 2024, Abnormal had achieved over 100% YoY ARR growth, surpassing $200M ARR, with 2,400+ customers including 17% of Fortune 500 like Airbnb, Chipotle, and Moderna. Investors across rounds include Greylock (from inception), Menlo Ventures, Insight Partners, CrowdStrike Falcon Fund, and Wellington. |
Who has invested in Abnormal AI?
6 investors have backed Abnormal AI across its funding rounds, including Greylock, Menlo Ventures, Insight Partners, Wellington Management, Ballistic Ventures and CrowdStrike Falcon Fund.
Lead investors include Wellington Management, Insight Partners, Menlo Ventures and Greylock.
Abnormal AI Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Nov 2019 | ||
| 3 | Lead | Nov 2020 | ||
| 2 | Lead | May 2022 | ||
| 1 | Lead | Aug 2024 | ||
This data is available for Pro users. Sign up to see all 6 Abnormal AI investors. Start Free Trial | ||||
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Start Free TrialInvestments by Abnormal AI
Abnormal AI has invested in 1 company to date.
Latest investment by Abnormal AI was on June 15th 2021. Abnormal AI invested in Terzo in their $3M Seed round.
Latest Investments by Abnormal AI
| Description | Terzo is a San Francisco-headquartered developer of AI-driven contract intelligence software for supply chain management. Its cloud platform analyzes contracts to extract obligations, risks, and performance metrics, providing real-time visibility into supplier agreements. Terzo integrates with ERP systems for automated compliance monitoring and renewal alerts. Targeted at enterprises in manufacturing and logistics, the software processes millions of contract lines. Founded in 2020, Terzo serves clients including Fortune 500 companies in North America. |
| HQ Country | |
| HQ City | Los Angeles, CA |
| Deal Date | 15 Jun 2021 |
| Round | Seed |
| Raised | $3M |
| Investors | Jeremy Yap; Innovation Global Capital; NJF Capital; Great Oaks Venture Capital |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Abnormal AI investments and their VC round multiples. Start Free Trial | |
Abnormal AI Competitors
Abnormal AI competitors include listed companies like Trend Micro, Varonis Systems and BlackBerry, and private ones like Coalition, Cato Networks and Island.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $325M | - | $5B | - | ||
| Publicly listed | $1.8B | $488M | $5.4B | 2.1x | ||
| Private | $300M | - | $4.8B | 16.0x | ||
| Private | - | - | $4.8B | - | ||
| Publicly listed | $624M | ($147M) | $5.5B | 7.5x | ||
| Publicly listed | $549M | $83M | $4.7B | 7.8x |
Abnormal AI Public Comps
Abnormal AI is still privately-owned, but its public comps include Trend Micro, Varonis Systems, BlackBerry, Glory View Technology, Clear Secure, Qualys, CommVault Systems, Tenable, Netskope and Cellebrite.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.8B | $488M | 2.2x | 2.1x | 8.0x | 8.1x | |||
| $624M | ($147M) | 8.5x | 7.5x | (36.0x) | 229.5x | |||
| $549M | $83M | 8.3x | 7.8x | 54.9x | 36.6x | |||
| $176M | $53M | 38.7x | 39.4x | 127.8x | 129.4x | |||
| $901M | $216M | 3.7x | 3.2x | 15.3x | 9.5x | |||
| $669M | $236M | 8.7x | 8.1x | 24.5x | 17.6x | |||
| $1.2B | $84M | 5.2x | 5.0x | 72.9x | 23.2x | |||
| $999M | $31M | 4.1x | 3.9x | 129.9x | 15.3x | |||
This data is available for Pro users. Sign up to see all Abnormal AI competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Abnormal AI
| When was Abnormal AI founded? | Abnormal AI was founded in 2018. |
| Where is Abnormal AI headquartered? | Abnormal AI is headquartered in Las Vegas, NV, United States. |
| Is Abnormal AI publicly listed? | No, Abnormal AI is a private, VC-backed company. |
| What is Abnormal AI's valuation? | Abnormal AI was last valued at $5.1B in its Series D in August 2024. |
| How much funding has Abnormal AI raised? | Abnormal AI has raised $534M across 4 funding rounds. |
| What was Abnormal AI's last funding round? | Abnormal AI's last funding round was a $250M Series D in August 2024, led by Wellington Management. |
| Who are Abnormal AI's investors? | Abnormal AI's investors include Greylock, Menlo Ventures, Insight Partners, Wellington Management, CrowdStrike Falcon Fund and Ballistic Ventures. |
| What is Abnormal AI's revenue? | Abnormal AI's latest recorded revenue is $200M (August 2024). |
| What is Abnormal AI's revenue multiple? | Abnormal AI's latest valuation implies a 25.5x revenue multiple ($5.1B valuation on $200M of revenue). |
| Which companies are comparable to Abnormal AI? | Companies comparable to Abnormal AI include Coalition, Trend Micro, Cato Networks, Island, Varonis Systems and BlackBerry. |
| How many companies has Abnormal AI invested in? | Abnormal AI has invested in 1 company, including Terzo. |
| What was Abnormal AI's last investment? | In June 2021, Abnormal AI invested in Terzo's $3M seed round alongside Jeremy Yap, Innovation Global Capital, NJF Capital and 1 other investor. |
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