Key Takeaways
- Outtake, a cybersecurity startup founded by Alex Dhillon, has raised $40 million in fresh funding from investors including Microsoft CEO Satya Nadella and Palantir tech chief Shyam Sankar.
- The company uses autonomous artificial intelligence agents to detect and remove cyberthreats, and has seen significant growth with annual recurring revenue increasing sixfold year over year.
- Outtake’s customers include OpenAI, Bill Ackman’s Pershing Square, and federal agencies, and the company plans to use the funding to grow its go-to-market teams.
- The startup’s technology is used to scan potential cyberattacks, with 20 million scans conducted last year, and has grown enterprise customers more than tenfold year over year.
- Outtake’s goal is to build a "trust layer for the Internet" to protect against increasingly sophisticated cyberthreats.
Introduction to Outtake and its Founder
Alex Dhillon, the CEO and founder of Outtake, spent almost five years at Palantir before leaving to build his cybersecurity startup. Now, his former boss is helping fuel his new company’s growth, alongside a roster of investors that includes Microsoft CEO Satya Nadella. Outtake, which counts OpenAI and Bill Ackman’s Pershing Square among its customers, has just raised a fresh $40 million. The startup, founded in 2023, uses autonomous artificial intelligence agents to help companies detect and quickly remove cyberthreats like phishing, through a variety of applications, including email verification. According to Dhillon, "We’re headed towards this world of always-on security," and companies need agent tech solutions like Outtake to defend against cyberthreats.
The Funding Round and Investors
The funding round was led by venture firm Iconiq, with participation from CRV, S32, and angel investors Nadella, as well as Palo Alto Networks CEO Nikesh Arora, Anduril co-founder Trae Stephens, and Ackman. Palantir tech chief Shyam Sankar was another angel investor in the company and contributed to the newest round. Dhillon didn’t disclose the valuation, but the 35-person company said that annual recurring revenue has increased about sixfold year over year, and that its systems scanned 20 million potential cyberattacks last year. Outtake also said it has grown enterprise customers more than tenfold year over year. The significant growth and investment in Outtake demonstrate the increasing importance of cybersecurity in today’s digital landscape.
The Technology and Market Opportunity
Outtake’s technology is used by AppLovin, federal agencies, luxury retail brands, and popular AI labs. The company’s autonomous artificial intelligence agents are designed to detect and remove cyberthreats, and its systems can scan millions of potential attacks per year. According to Iconiq general partner Murali Joshi, "What they’ve built, from a product perspective, is so fundamentally differentiated relative to everything else that’s been on the market." Joshi also noted that the company’s growth rate, strong customer feedback, and market opportunity were among the reasons Iconiq invested in Outtake. The market opportunity for cybersecurity solutions is significant, and Outtake is well-positioned to capitalize on this trend.
Growth Plans and Future Directions
Dhillon said that the company plans to use some of the funding to grow its go-to-market teams, including engineering and product. "We need agents manning the walls, because we’re getting hammered every day," Dhillon said. "That’s, frankly, what’s both thrilling and frightening about our space, and in that lie opportunity." Outtake previously raised $16.5 million in a Series A funding round led by CRV in April, and $3.5 million in a seed round. The company’s goal is to build a "trust layer for the Internet" to protect against increasingly sophisticated cyberthreats. With the increasing use of artificial intelligence, the pace and sophistication of cyberthreats are likely to continue to grow, making Outtake’s solutions more important than ever.
Conclusion and Future Outlook
In conclusion, Outtake’s recent funding round and significant growth demonstrate the importance of cybersecurity in today’s digital landscape. The company’s autonomous artificial intelligence agents and systems are designed to detect and remove cyberthreats, and its customers include some of the biggest names in tech and finance. With the increasing use of artificial intelligence, the pace and sophistication of cyberthreats are likely to continue to grow, making Outtake’s solutions more important than ever. As Dhillon noted, "We’re headed towards this world of always-on security," and companies like Outtake are leading the charge in protecting against cyberthreats. With its strong growth and significant investment, Outtake is well-positioned to continue to play a major role in the cybersecurity industry.
