Social engineering defence company Doppel raises $35m

Doppel, an AI-powered social engineering defence platform, has raised $35m in its Series B funding round at a valuation of $205m.

This latest investment, led by Bessemer Venture Partners, follows a rapid growth for Doppel since its Series A funding round over a year ago.

The funding round saw participation from 9Yards Capital and Sozo Ventures. It also involved existing investors including South Park Commons, a16z, Strategic Cyber Ventures, Script Capital, and Sabrina Hahn.

Doppel CEO Kevin Tian said: “We’ll use these funds to double down on our core products, serve the rapidly growing demand from enterprises across all sectors, and build the first social engineering defence platform.”

The total funds raised by Doppel now stand at $54.4m.

Bessemer Venture Partners partner Elliott Robinson said: “Doppel is quickly emerging as the market leading social engineering defence company by leveraging its proprietary AI-powered approach that is critical in today’s environment as these new threats become increasingly sophisticated for corporation’s brands, executives and employees.

“We’ve been blown away by the company’s rapid growth and product efficacy in curbing the hyper-personalised attacks that challenge their customers, and look forward to seeing the company continue to roll out new offerings for the enterprise.”

Doppel’s Doppel Vision platform is designed to offer protection against digital threats by providing visibility and takedown capabilities across various attack surfaces, from social media and email to domains and apps.

It employs advanced Large Language Models (LLMs) combined with expert human analysis to map and dismantle attacker infrastructure, unifying threat insights and eliminating blind spots.

Since January 2024, Doppel has reported a 400% increase in enterprise customers and a 90% rise in its overall customer base.

This includes a threefold growth in annual recurring revenue (ARR) and an eightfold increase in expansion revenue from existing clients.

In collaboration with OpenAI, Doppel has integrated AI models fine-tuned by thousands of decisions made by cybersecurity experts, resulting in the creation of the first AI cybersecurity agent.

The deployment of this technology has already doubled the efficiency of Doppel’s operations team, the company said.

OpenAI startups head Marc Manara said: “Doppel is a strong example of how domain expertise paired with reasoning models can transform industries.

“Their use of AI to make threat detection faster, more cost-efficient, and more explainable — along with early development of agents that don’t just detect risks but understand and act on them — is an exciting glimpse of what’s next for AI in cybersecurity.”

“Social engineering defence company Doppel raises $35m” was originally created and published by Verdict, a GlobalData owned brand.

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