Outtake Raises $40 Million to Enhance Cybersecurity Innovation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: Newsfilter
- Funding Achievement: Cybersecurity startup Outtake successfully raised $40 million in a funding round led by Iconiq, with participation from notable investors including Microsoft CEO Satya Nadella and Palantir's Shyam Sankar, reflecting strong market confidence in its technology.
- Customer Growth: Outtake's enterprise customer base has grown more than tenfold year over year, while its annual recurring revenue has increased approximately sixfold, indicating a surge in demand for its services and solidifying its market position.
- Technology Application: Outtake employs autonomous AI agents to help companies detect and swiftly eliminate cyber threats, having scanned 20 million potential cyberattacks last year, demonstrating the effectiveness of its technology in addressing complex cybersecurity challenges.
- Market Outlook: Founder Alex Dhillon noted that AI has heightened the sophistication and speed of cyber threats, and the company plans to use the new funding to expand its go-to-market teams, further enhancing its competitive edge in the cybersecurity sector.
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Analyst Views on PLTR
Wall Street analysts forecast PLTR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PLTR is 192.88 USD with a low forecast of 50.00 USD and a high forecast of 255.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
5 Buy
10 Hold
2 Sell
Hold
Current: 157.350
Low
50.00
Averages
192.88
High
255.00
Current: 157.350
Low
50.00
Averages
192.88
High
255.00
About PLTR
Palantir Technologies Inc. is engaged in building software to assist in counterterrorism investigations and operations. The Company has built four principal software platforms, including Palantir Gotham (Gotham), Palantir Foundry (Foundry), Palantir Apollo (Apollo), and Palantir Artificial Intelligence Platform (AIP). Apollo is a cloud-agnostic, single control layer that coordinates ongoing delivery of new features, security updates, and platform configurations, helping to ensure the continuous operation of critical systems. Gotham enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants. Foundry transforms the ways organizations operate by creating a central operating system for their data. AIP enables responsible artificial intelligence (AI)-advantage across the enterprise by using primary, core components built to effectively activate large language models and other AI within any organization.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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