We’re excited to announce that we’ve raised $70M in Series C funding.
Today, we're excited to announce Doppel's $70M Series C, led by our returning investors Bessemer Venture Partners alongside Andreessen Horowitz, South Park Commons, Script Capital, 9Yards Capital, Sozo Ventures, and Strategic Cyber Ventures. In addition, new investors include George Kurtz, CEO of CrowdStrike, NTT DOCOMO Ventures, Aurum Partners - the investment fund affiliated with the owners of the San Francisco 49ers and other strategic LPs, and a group of athlete investors led by WNBA players Nneka Ogwumike, Breanna Stewart, and Kelsey Plum, who joined the round through the a16z Cultural Leadership Fund.
This round occurs just six months after our Series B with a 3x on valuation. In addition in that same time period, we've:
- Shipped our Human Risk Management (HRM) product with the first multi-channel vibe phishing simulation capabilities plus AI-generated Security Awareness Training (SAT) content. This is an evolution of our Social Engineering Defense platform. Our platform can now detect, dismantle, and simulate attacks.
- Viral growth among the Fortune 500, covering dozens of logos across various industries, including financial services, energy & utilities, technology & software, industrial & manufacturing, healthcare & life sciences, and media & entertainment.
- Won numerous accolades, including Fortune Cyber60, SINET16, Accel 100 US AI Startups and AI-Based Cybersecurity Innovation of the Year award from CyberSecurity Breakthrough.
- Featured in OpenAI's case study on one of the earliest applications of Reinforcement Fine Tuning (RFT) to automate cybersecurity operations end-to-end.
- Redesigned our brand and digital presence to reflect the innovation and category creation Doppel is driving across the Social Engineering Defense (SED) space.
We're just getting started
However, if there's one key message to take away from this announcement, it's that we're just getting started. We're on a mission to protect the world from social engineering attacks every day. Our R&D team has just scratched the surface of all the innovation we'd like to bring to both our core and upcoming products, as we build out our SED platform. In parallel, our GTM teams continue to scale up across the world and across sectors, making sure that we meet our customers where they're at to partner against these attacks. This funding will be used to invest in the core Doppel gang to meet the exponential surge in demand.
Ultimately, we are working on one of the most important problems in the post-AI world. Organizations are not yet prepared for the flood of AI-generated deception that is attacking them. Doppel exists to protect these organizations, their employees, and their customers by relentlessly outpacing these social engineering threats. This fundraise will allow us to make even greater progress towards this goal.
Thank you for believing in our mission
Thank you to our customers and partners for trusting us to help protect their people. Thank you to our team for hustling and building every day for our customers and partners. Thank you to our community for collaborating with us to innovate on social engineering defense. Thank you to our investors for believing in our team and joining our mission.
Read more in our press release here: Doppel Raises $70M Series C to Meet Rising Demand for AI-Driven Social Engineering Defense (opens in new tab)
Lastly, thank you to Allie Garfinkle for covering our news in Fortune. Read the full story here
A few words from our investors and customers:
"We're thrilled to double down on our partnership with Doppel, as their world-class team is truly unparalleled,” said Elliott Robinson, Partner at Bessemer Venture Partners. “In my 20 years of working with startups, Doppel stands out with its incredible speed, massive ambition, and laser focus on execution, which is a clear recipe for success. We believe these qualities will solidify Doppel as the unquestioned leader in social engineering defense for years to come."
“I'm excited about what Doppel is delivering to combat social engineering attacks,” said George Kurtz, CEO and Founder of CrowdStrike. “Cybercriminals are using AI, conducting increasingly sophisticated attacks to manipulate and deceive users. Doppel’s traction with Fortune 500 enterprises illustrates market need for social engineering defense (SED) and impressive momentum.”
"As a global, publicly traded company, protecting our business and customers is vital,” said Cayden Larkin, Security Analyst at Commerce, the parent company of BigCommerce and Feedonomics. “Doppel is a core layer of our security program, helping us to reduce risk by taking down impersonations across channels, and ultimately safeguarding our brand and reputation. We’re excited by Doppel’s pace of innovation and the impact it will continue to have on our customers and brand.”
"As a global brand with highly visible executives, protecting our leadership team is paramount,” said a CISO from a Fortune 500 agriscience leader. “Doppel has been a game-changer for our corporate security, driving a 93% reduction in exposed executive PII and proving vital to minimizing our risk profile. We are proud to call Doppel a great partner in ensuring our leadership's safety, and look forward to the continued innovation and impact."