PayPal invests in threat prevention developer

PayPal Ventures has announced its investment in a leading threat prevention company, Deep Instinct, the first organisation to apply deep learning to cybersecurity.

PayPal joins an existing investor base which includes Black Rock, Chrysalis Investments, Millennium, Unbound, Untitled Investments, The Tudor Group and Coatue Management, amongst others. 

PayPal's investment is yet another mark of confidence in Deep Instinct. The company has an unrivalled ability to sense out cyber threats well before other, more conventional solutions can.

Its growth is driven by its disruptive threat prevention technology. The funding will help accelerate its expansion.

Alan Du, Partner at PayPal Ventures, said about the investment: "Deep Instinct has developed an industry leading threat prevention platform that allows enterprises to get ahead of cybercriminals and malicious threats.”

“We're thrilled to invest in Deep Instinct and believe the company will help move the cybersecurity industry beyond its current detection and remediation focus to a prevention first model."

Lane Bess, CEO at Deep Instinct, added: "We are excited that PayPal Ventures see the market potential of using deep learning to safeguard against cybercriminal activity by immediately preventing even the most advanced attacks.”

“With the support of our investors, I am convinced that the future of cybersecurity is on the cusp of a long awaited change inspiring every enterprise to adopt a prevention first strategy."

Deep Instinct currently protects customers across North America, Europe and the Asia Pacific region.

It tripled its customer base in 2022. Numerous Global 2000 organisations is now working with Deep Instinct for the cyber protection of its organisation and customers.

PayPal Ventures is the venture capital arm of the FinTech giant PayPal. It invests in financial technology, commerce and infrastructure startups with promising futures.

PayPal Ventures provides these companies with access to the resources and expertise they need to succeed and grow. It has recently invested in several banking and financial services companies, including Finanzguru, MintOak Innovation, Aspire and tabby.

While PayPal may have been the original FinTech company, it now also works with partners to ensure it remains relevant and competitive.

It is one of the most trusted financial processors out there. People are familiar with the brand and know the name means their money is safe. In many environments, PayPal is the preferred payment method. It is incredibly convenient to use, and the purchaser does not have to share any financial information with the seller.

PayPal is also favoured because of the speed at which transactions are processed. There is no hanging around for money to leave one account and arrive in another. In many situations, payments happen in an instant.

This is one of the reasons it is preferred by people who pay to download content or play online games. Funds move at lightning speed. For example, someone playing at an instant withdrawal casino UK site will have the money in their account in record time if they made their initial deposit with PayPal. While debit cards and bank transfers can take significantly longer.

Just as Deep Instinct keeps clients one step ahead of cyber threats, PayPal is always looking to stay one step ahead of the competition.

Although, without a doubt, it has been around longer than most of its competitors, the challenge is always to stay relevant. PayPal offers innovative and secure checkout solutions for customers and retail partners.

Considering one-third of online purhases are estimated to be abandoned at checkout if the customer's preferred payment option is not offered, online retailers are wise to offer a payment method as popular as PayPal.

Ticketmaster is one of the latest sites to announce that PayPal is its preferred payment processor.

In recent years, PayPal has also transformed from being a peer-to-peer payment platform to an e-wallet of choice for online shoppers. The additions of PayPal Pay Later and PayPal Credit have given the company leverage in the buy now pay later sector, which Klarna had previously dominated.