Israeli Cybersecurity Firm MIND Security Raises $72 Million in Funding

MIND Security, an Israeli cybersecurity company specializing in AI-powered data loss prevention (DLP), has announced the successful completion of a $72 million Series B funding round. This latest investment comes just 12 months after its previous funding round and brings the total investment in the company to over $112 million.

The funding round was led by Crosspoint Capital Partners, with participation from existing investors YL Ventures and Paladin Capital Group. MIND Security, founded in 2023 by cyber entrepreneurs Eran Barak, Itay Schwartz, and Hod Ben Noon, develops an AI-based platform designed to prevent corporate data leaks.

The company currently employs around 70 people, with 40 based at its development center in Israel and the rest in the United States. MIND Security has already achieved an annual revenue run rate in the tens of millions of dollars and serves dozens of Fortune 500 clients across various sectors, including finance and healthcare.

The increasing demand for MIND Security's solutions is driven by the widespread adoption of generative AI tools and autonomous AI agents within organizations. These advancements pose unprecedented security challenges, leaving traditional security systems inadequate against data leakage risks.

With the new capital, MIND Security plans to accelerate product development, expand its international market presence, and double its workforce in Israel, particularly in its development and product teams, in the coming years.