DTEX raises $50M in Series E funding led by Alphabet’s CapitalG

DTEX is set to innovate the Insider Risk Management space through the application of behavioural science research to accelerate investigations and decision-making.

DTEX Systems, the global leader for insider risk management, today announced that it closed US$50M in Series E funding.

CapitalG, the independent growth fund of Google’s parent company Alphabet, led the new investment round, bringing DTEX Systems’ total funding raised to US$138M.

The funding will be used to expand the company’s U.S. engineering team and grow its go-to-market (GTM) operations globally, accelerating its mission to proactively protect global organisations from insider threats.

These new funds will continue to fuel significant company momentum and accelerate DTEX’s application of large language models (LLMs) and behavioural science research to disrupt the insider risk management market. In the last year, DTEX doubled its ARR growth rate and closed its highest-ever number of $1 million+ deals. This includes the largest deal in company history with a leading Financial Services company that deployed the DTEX InTERCEPTTM platform enterprise-wide, covering more than 800,000 user devices and mission-critical servers. Customer wins spanned multiple industries, including energy, mining, healthcare, banking and finance, technology, media, pharma, telecommunications, federal agencies and other critical infrastructure entities.

To support this rapid growth, DTEX expanded its C-suite with the appointment of Marshall Heilman as CEO, Rajan Koo as CTO, and Dave Salverson as CFO.

“Our investment in DTEX comes at a time when enterprises worldwide are increasingly reprioritising their security investments in order to address the costs and impact of insider risks. At the same time, the market is underserved by legacy technologies that don’t provide visibility into the behavioural nuances that are essential to understanding and proactively mitigating both malicious and unintentional insider risks,” said James Luo, partner at CapitalG who will be joining the DTEX board of directors.

“DTEX takes a differentiated approach to mitigating insider risks and has a proven record of success as the most innovative and effective solution on the market. We look forward to partnering with the DTEX team to support the company in its next phase of growth.”

Insider risk management has quickly become one of the top priorities for business leaders today. Seventy-seven percent of organisations report they have or are planning to start an insider risk program and nearly 50% are increasing spending.

According to DTEX and Ponemon Institute, 75% of insider incidents are non-malicious due to negligent and mistaken employees or exploitation by external threat actors.

Against this backdrop, organisations increasingly acknowledge the need to focus on the human element to shift from reactive to proactive security and prevent unnecessary damages.

Visit the DTEX Systems website to learn more about this story.

To learn more about the Australian Insider Risk Centre of Excellence (Air COE) visit the Australian Cyber Collaboration Centre website.