AI security startup Xbow surpasses $1 billion valuation

Xbow, a startup building AI software to detect security vulnerabilities in applications, has completed a new funding round, valuing the company at over $1 billion, demonstrating investor enthusiasm for using AI in cybersecurity. Xbow said Wednesday that DFG Growth and Northzone led the $120 million funding round. Other participants included Alkeon Capital and Sofina, as well as existing investors Sequoia Capital, Altimeter Capital, and NFDG. The startup currently has about 150 employees and expects to have several hundred by the end of the year. Xbow CEO De Mohr stated that Xbow already has over 100 clients, including Moderna and Samsung Electronics, and is seeing strong demand in South Korea. (Jinshi)