Cybersecurity company Bold bags $40m funding round

Cybersecurity company Bold has emerged from stealth after securing a $40 million funding round. The round included investments from Bessemer Venture Partners, Picture Capital and Red Dot Capital Partners. The capital will support the launch of the company's AI-powered endpoint security platform. Bold develops endpoint security technology designed to reduce user-related risks across enterprise systems. The company focuses on protecting employee devices that connect internal systems with external networks. Its platform runs AI models locally on each device to monitor behavior, classify sensitive data and enforce security controls in real time. The company plans to use the funding to accelerate its go-to-market strategy and further develop its edge AI platform. Early customers have reported that alert volumes fell by up to 90 percent, according to the company. Bold is already working with enterprise clients in the United States, including Shutterfly, Spencer Stuart and Tekion.