AI Security Startup Xbow Valued at More Than $1 Billion

Xbow, a startup that builds AI software to probe applications for security vulnerabilities, has raised a new round of funding that values it at more than $1 billion, a sign of investor enthusiasm for using artificial intelligence in cybersecurity.

DFJ Growth and Northzone led the $120 million financing deal in Xbow, the company said Wednesday. Other participants included Alkeon Capital and Sofina, as well as previous backers Sequoia Capital, Altimeter Capital and NFDG.