Abnormal Security
An email security company that learns how each employee normally behaves, now reaching 30% of the Fortune 500, valued at $5.1B in 2024 and quietly getting ready to go public.
Abnormal AI, Sep 24, 2026; Series D release- Valuation
- $5.1B at the Aug 2024 Series D, up 27.5% on the 2022 round.
- Raised
- $546M in total, across four priced rounds since 2019.
- Revenue
- $200M+ ARR as of Aug 2024, growing over 100% a year. No newer figure published.
- Watch
- Sued by Anthropic a trademark case over its slash logo, filed Jul 2026 and still open.
- AI
- Own model its Attune 1.0 model powers about 85% of malicious detections.
- Liquidity
- None reported no tender offer or staff share sale found in public sources.
- Hiring
- 72 → 69 remote listings since Oct 10.
Subscriptions sold to security teams, mostly on multiyear deals.
Abnormal plugs into Microsoft 365 and Google Workspace by API and sells add-on products on top of its core inbound email protection. Its finance chief has called revenue predictable because of multiyear deals and healthy renewals. Typical buyers run 1,000 mailboxes or more.
CNBC via NBC San Diego, Jan 22, 2025; abnormal.ai/llms.txt- 1A model trained on how people normally workAttune 1.0 was trained on over one billion behavioral signals and powers about 85% of detections. Precision gains are the company's own claim.Help Net Security, Mar 18, 2026
- 2Easy to switch on, hard to rip outIt connects by API with no mail routing change, and three quarters of customers have dropped a separate email gateway.Abnormal, Apr 28, 2025
- 3Big-company and government footprintOver 5,000 organizations and 30% of the Fortune 500 as of Jul 2026, plus FedRAMP Moderate authorization since Apr 2025.Abnormal, Sep 24, 2026
- Check Point$15.5Blisted, Oct 30 close
- Proofpoint$12.3Bprivate, Aug 31
- Mimecast$5.80Bprivate, May 17
- Abnormal Security$5.10BSeries D, Aug 6
- Material Security$1.10Bprivate, May 13
Private values are the last reported round; they can be stale. Listed values are market value. Bars start at zero.
Every round, and what its terms give away.
Abnormal Security is private, so there is no share price. What its investors paid, and on what terms, is the closest thing to one.
- $5.10B
- latest valuation, Series D Aug 6
- $546M
- raised in all
- $200M
- ARR, as of Aug 6
- +100%
- growth, as reported
- 1,550
- employees, as reported
Not profitable as of Jan 2025; the CFO said it will be in the future. No profit figure published.
Abnormal, Aug 6, 2024; CNBC Jan 2025; BankInfoSecurity Jul 2026 (employees)Post-money valuations as reported. The line starts at zero. Rounds without a reported valuation are left off.
- Aug 6Series D$250M at $5.10BLed by Wellington Management. About 5% of the company, if all new sharesGreylock, Menlo, Insight and CrowdStrike Falcon Fund also in. ARR had just passed $200M.Abnormal, Aug 6, 2024
- May 10Series C$210M at $4.00BLed by Insight Partners. About 5% of the company, if all new sharesForm D shows $209.7M sold of a $300M offering. ARR roughly tripled that year.Cooley, May 10, 2022; SEC Form D/A
- Nov 18Series B$50MLed by Menlo VenturesValuation not disclosed; Forbes reported about $500M, per SiliconANGLE.Abnormal, Nov 18, 2020
- Nov 19
- Down round or flat round?Up round. $5.1B in Aug 2024 against $4.0B in May 2022, a 27.5% step up over 27 months.GovInfoSecurity, Aug 6, 2024Clear
- How much of the company did the last round sell?About 4.9% ($250M on a $5.1B post-money). Small for a late round.Abnormal, Aug 6, 2024Clear
- Time since the last raiseAbout 27 months with no new priced round. Press in Jul 2026 still cites the $5.1B value and $200M+ ARR from 2024.BankInfoSecurity, Jul 8, 2026Flag
- Structured or unusual terms reported?Checked the company release, Cooley and trade coverage: no preference, ratchet, warrant or debt terms reported.Abnormal, Aug 6, 2024Clear
- Who led: new outside money or insiders?A new outside lead, Wellington Management, a large public-markets investor often seen in pre-IPO rounds. Insiders joined.Abnormal, Aug 6, 2024Clear
- Employee liquidity: tender offers or secondary sales?No tender offer or staff secondary found. Absence in public sources does not mean none happened.Searched Oct 31, 2026Open
- Layoffs in the last 12 months?None found. Headcount grew from about 1,000 in Jan 2025 to more than 1,550 by Jul 2026.BankInfoSecurity, Jul 8, 2026; CNBC, Jan 2025Clear
Clear: checked, nothing found. Flag: found, with the source. Open: could not be checked.
No filing reported. CFO hired Jan 2025 to prepare; she estimated about 18 months.
What the record says, and what we think it means.
The fact is the source's. The read, in italics, is ours.
- 01Watch
Anthropic is suing over its logo.
BankInfoSecurity, Jul 8, 2026; AI Lawsuit TrackerFiled Jul 1, 2026 in federal court in San Francisco (3:26-cv-06754), a Lanham Act trademark claim over the slash logo adopted in the Apr 2025 rebrand. Abnormal says it designed the mark in 2021. Still open as of late Sep 2026.
Not a threat to the product, but a forced rebrand would cost money and attention in the run-up to an IPO. The CEO said Abnormal spends over $10M a year with Anthropic.
- 02Neutral
IPO preparation started in Jan 2025, with no filing yet.
CNBC via NBC San Diego, Jan 22, 2025Hired CFO Lisa Banks (ex-ServiceNow) in Jan 2025 for public company readiness. She said about 18 months should be enough to prepare. No S-1 has been reported.
That 18-month window closed in mid 2026. Timing now seems to depend on markets. An IPO would be the most likely way for employee stock to become cash.
- 03Watch
No new revenue number in over two years.
Abnormal, Jan 22, 2025The last ARR figure is $200M+ from Aug 2024. The Jan 2025 CFO release set a goal of $1B+ ARR. Jul 2026 press still uses more than $200M.
Fast-growing private companies usually announce milestones. Silence could be pre-IPO quiet, or slower growth. We cannot tell which.
- 04Good
Fortune 500 share nearly doubled in two years.
Abnormal, Sep 24, 202617% of the Fortune 500 and 2,400+ customers in Aug 2024; 30% and 5,000+ as of Jul 31, 2026. A Sep 8, 2026 release used older figures (25%, 4,500+).
Customer counts more than doubled, which argues against a stall. The figures are the company's own, and its releases do not always agree.
- 05Good
Headcount roughly doubled.
GovInfoSecurity Aug 2024; CNBC Jan 2025; BankInfoSecurity Jul 2026747 employees in Aug 2024, about 1,000 in Jan 2025 and more than 1,550 by Jul 2026.
Still hiring hard, with no layoffs found. Fast growth also means fast change in teams and managers.
- 06Good
Partnered with OpenAI in Aug 2026.
Abnormal, Aug 19, 2026Joined OpenAI's Daybreak Cyber Partner Program as an early security partner, to test OpenAI models and Codex Security alongside its own detection.
A useful ally while Anthropic sues it. Its core detection stays on its own models, per the release.
- 07Good
Cleared to sell to US federal agencies.
Abnormal, Apr 22, 2025FedRAMP Moderate authorization in Apr 2025 after 256 days, sponsored by the Tennessee Valley Authority. CNBC says it has since added federal and state agencies as customers.
Government work is slow to win and sticky once won. Expect roles needing US citizenship or clearances.
- 08Good
SoftBank now resells it in Japan.
Abnormal, Sep 8, 2026SoftBank Corp. began offering Abnormal's email security to enterprise customers across Japan on Sep 8, 2026. Abnormal has operated in Japan since 2025.
A big local channel partner is how US security firms usually crack Japan. International growth was a stated use of the Series D money.
Finance is paid 21% over market. Engineering, 1% under.
We save every company's roles, pay by team and level, AI share and churn every day, so each month this page can say more. Sparklines use their own scale.
Can AI agents do business with Abnormal Security?
We checked the agent payment programs, developer docs and site rules an AI assistant would meet.
Building security for agents. Not yet built for agents to use.
Still Remote read- AnnouncedProducts that watch AI agentsAI Agent Security finds and monitors company AI agents. In private preview, general release planned for Q4 2026.Abnormal, Sep 24, 2026
- YesAI agents it sellsAI Phishing Coach and AI Data Analyst, launched Apr 2025, coach users and write security reports.Abnormal, Apr 28, 2025
- YesFrontier AI lab partnershipsEarly partner in OpenAI's Daybreak Cyber Partner Program since Aug 2026.Abnormal, Aug 19, 2026
- Not foundAn MCP server or agent toolkitNo MCP server found, and its AI App Store page does not mention one.Abnormal blog, Jul 28, 2026; searched Oct 31, 2026
- MixedDocs that AI tools can readabnormal.ai publishes a detailed llms.txt. No public developer portal found; API docs sit in a customer knowledge base.checked Oct 31, 2026
- YesLets AI crawlers read its siterobots.txt blocks only /internal/ for every bot. No AI crawler is named or blocked.checked Oct 31, 2026
Where Abnormal Security puts AI to work.
- 1Its own foundation model does the detectingAttune 1.0, launched Mar 2026, combines identity, behavior and content signals in one model and drives about 85% of malicious detections.Help Net Security, Mar 18, 2026
- 2OpenAI tools for operations and codingThe Aug 2026 OpenAI release says Abnormal is expanding its use of OpenAI across internal business operations and software development.Abnormal, Aug 19, 2026
- 3Heavy user of Claude tooThe CEO said in Jul 2026 that the company will spend over $10M with Anthropic this year, while saying detection does not rely on Claude.BankInfoSecurity, Jul 8, 2026
More listings than on Sep 7, most of them in sales.
What Abnormal Security puts on its own channel.
Short videos from Abnormal Security's official YouTube channel, played here. We only use a channel that links abnormal.ai and carries the company's name.
- 95% Detection vs 100%: Why That Missing 5 Is Your Biggest Risk23 views
- AI Security Advice: Start by Inventorying OAuth Apps | Abnormal AI13 views
- Permission Drift: The AI Agent Access Risk Explained | Abnormal AI16 views
- Cybersecurity Must Evolve to Protecting Behaviors, Not Just Endpoints995 views
- This phish doesn't want your password: inside EvilTokens #Shorts29 views
- Most attacks don't look like attacks #Shorts15 views
- Executives, picked by name: inside VENOM #Shorts21 views
- State of AI Security at Black Hat 2026 | Abnormal AI80 views
What has to be true for $5.1 billion to hold?
The starting revenue is Abnormal Security's own reported figure. A way to think, not a forecast, and not investment advice.
At 26x, Abnormal Security needs $196 million of revenue to be worth $5.1 billion. Your world gets there with $800 million, so the next round likely prices above the last.
$100,000 of equity valued at the $5.10B Series D price would be worth about $407,843 on paper in this world, before dilution from new rounds, taxes and vesting. Private shares only turn into cash at a sale, an IPO or a tender offer.
A way to think, not a forecast, and not investment advice.
Abnormal, Aug 6, 2024The signals, and which way they push.
- TailwindWinning the largest companies.
Fortune 500 share went from 17% to 30% in two years, and customers from 2,400 to over 5,000.
- TailwindOpening government and overseas markets.
FedRAMP Moderate in 2025, SoftBank reselling in Japan and Singapore accreditation in 2026.
- TailwindMoving past email into AI security.
Five AI security products announced in Sep 2026, covering AI agents, governance and cloud. Only AI Governance is generally available.
- HeadwindNumbers have gone quiet.
No new ARR figure or priced round since Aug 2024, and the CFO's 18-month IPO prep window has passed without a filing.
Where Abnormal Security ends up, if we had to bet.
Our calls, not facts. Each one is tied to something that already happened, so you can judge the reasoning.
- 1
Abnormal is a listed company by 2031.
Likely 72%IPOIt hired a CFO in Jan 2025 explicitly for public company readiness and took money from Wellington, a typical pre-IPO investor. No filing is reported yet, so the timing is open.
Abnormal, Jan 22, 2025 - 2
A larger security platform buys Abnormal before it lists.
Long shot 16%M&ACrowdStrike is already an investor, and email security rivals Proofpoint and Mimecast were bought by private equity. But at $5.1B and with an IPO plan, a sale would need a big premium.
Abnormal, Aug 2024; Proofpoint and Permira releases - 3
Abnormal reaches its stated goal of $1B in ARR.
Coin flip 50%RevenueIt passed $200M in 2024 at over 100% growth, and its customer count has more than doubled since. No revenue figure since then makes the pace impossible to confirm.
Abnormal, Jan 22, 2025 - 4
Securing companies' AI agents becomes a major Abnormal product line next to email.
Likely 72%AIIt announced AI Agent Security and four other AI products in Sep 2026, and partnered with OpenAI on agent monitoring. Most are still in preview, so revenue is unproven.
Abnormal, Sep 2026 - 5
Abnormal stays one of the top two or three names in email security against Proofpoint and Mimecast.
Likely 72%CompetitionIt reports a high win rate against both in trials, and 30% of the Fortune 500 now use it. Big platforms bundling email protection remain the risk.
GovInfoSecurity, Aug 2024; Abnormal, Sep 2026
Read by the Still Remote research agent on November 1, 2026 from the sources linked on this page. Facts and scenarios only, not investment advice.