We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 – 28. Join AI and data leaders for insightful talks and exciting networking opportunities. Register today!
Today, AlphaMountain.ai announced it has closed a seed funding round led by Mercato Partner’s Prelude Fund with $2.7 million in funding. The organization intends to use the funding to develop the sophistication of its threat intelligence.
AlphaMountain.ai’s AI platform is designed to provide up-to-date domain and IP intelligence feeds for security platforms.
Its intelligence feeds are based on continuously trained AI models that provide coverage for over 1 billion domains and IPs, and can be used for measuring malicious risk and web reputation, content classification, and detecting cyber squatting or phishing.
For enterprises, AlphaMountain.ai’s solution offers a wider range of coverage against malicious threats and provides access to high quality domain and intelligence feeds, with higher accuracy than existing legacy solutions.
Threat intelligence: working smarter not harder
Over the past decade, threat intelligence solutions have become an integral part of the enterprise security strategy. However, most of the threat intelligence that organizations rely on is outdated.
Research highlights that 90% of CISOs rely on outdated, report-based threat intelligence that is too old to inform decisions.
Alpha mountain.ai’s platform is designed to address this challenge by providing organization’s security platforms with access to more comprehensive and accurate AI-driven intelligence feeds so that security teams can work smarter and not harder when managing threats.
“What’s unique about AlphaMountain — aside from having two of the brightest minds in network security and machine learning at the helm — is that they are actually using AI. Many cyber tools claim to use AI but are actually using static based human authored rules,” said Zach Sivertson, partner at Mercato Partners’ Prelude Fund.
“Even at this early stage, AlphaMountain.ai’s technology is very impressive, and partners can tell a difference in the quality of data,” Sivertson said.
The global threat intelligence market
While AlphaMountain.ai’s seed funding round is modest, the organization has already had some major wins since it was founded in 2020. For instance, the firm has already partnered with Cisco and the Cisco Secure Technical Alliance to enable security for major events, including the Super Bowl earlier this year, and Black Hat USA last year.
It’s also entering a growing market, with researchers valuing the threat intelligence market at $5.28 billion in 2020 and anticipating it will reach $13.9 billion by 2026 as more organizations look to stay up-to-date on the latest threats.
The organization is competing against a range of providers including CrowdStrike with Falcon X, an automated threat intelligence solution for automatically investigating security incidents and supplying organizations with threat reports and research from CrowdStrike experts, which recently announced annual recurring revenue of $1.73 billion.
Another competitor is Fortinet with FortiGuard Labs, a threat intelligence platform that’s designed to feed threat intelligence directly into Fortinet security products, and the enterprise’s wider environment. Recently reporting a revenue of $3.34 billion.
However, AlphaMountain.ai’s AI pedigree puts it in a strong position to present itself to the market as one of the most extensive and accurate threat intelligence solutions.
VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.
Author: Tim Keary