Outtake Secures $40M to Revolutionize AI-driven Cybersecurity Against Identity Fraud
Outtake, a pioneering force in agentic cybersecurity solutions, has successfully raised $40 million in Series B funding. This significant investment round was spearheaded by Murali Joshi of Iconiq, with participation from notable industry leaders including Microsoft CEO Satya Nadella, Palo Alto Networks CEO Nikesh Arora, Pershing Square Holdings CEO Bill Ackman, and others.
The excitement surrounding this funding round stems from Outtake's innovative approach to combating digital identity fraud. Founded in 2023 by Alex Dhillon, a former Palantir engineer, Outtake has developed a platform that automates the detection and elimination of impersonation accounts, malicious domains, rogue apps, and fraudulent advertisements. This automation addresses a challenge that has grown increasingly complex with the advent of AI-enhanced cyber threats.
Murali Joshi expressed initial skepticism about the possibility of effectively addressing digital misrepresentation at scale. However, after thorough due diligence and customer validation, Iconiq became a firm believer in Outtake's potential. "They've transformed a 'human problem' into a 'software problem,'" Joshi remarked. "The ability of AI to neutralize digital frauds in real time is a transformative leap for brand safety."
Outtake's client roster includes industry giants such as OpenAI, Pershing Square, AppLovin, and various federal agencies. The company has demonstrated remarkable growth, with a sixfold increase in annual recurring revenue and a tenfold expansion of its customer base. In the past year, Outtake's systems have scanned 20 million potential cyberattacks, underscoring the robustness and scalability of their platform.
Alex Dhillon attributes the access to high-profile angel investors to his tenure at Palantir, where he worked closely with influential figures such as Shyam Sankar. This network facilitated introductions to key investors, resulting in substantial financial backing for Outtake's groundbreaking technology.
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