Abnormal Security, a startup that sells email security software to companies, said Wednesday it has hired a former Immediate service Treasurer Lisa Banks serves as chief financial officer as the company prepares for an initial public offering.
Abnormal is targeting a long-standing market that includes existing Mimecast and Proofpoint, adding a layer of artificial intelligence to spot attacks in email. Other startups such as Material Security and Excellent security Offers competitive email tools.
“We are disrupting traditional markets and our approach around artificial intelligence and human behavior is very unique,” Banks said in an interview.
and Donald Trump Returning to the White House this week, investors are optimistic they will see a strengthening market for initial public offerings, especially technology stocks, after a three-year drought. A handful of technology company IPOs last year include Reddit, scarlet letter and Serve Titan. Artificial intelligence chip maker Cerebras files for IPO, but not yet It is planned to be listed on Nasdaq.
Goldman Sachs CEO David Solomon, whose Wall Street firm tends to Morgan Stanley When it comes to leading high-profile products, said last week IPOs “will accelerate.” at one time by CiscoSolomon said sentiment was changing and there was “more constructive optimism” about the overall market.
Banks said Abnormal does not have a specific IPO timetable, but she said a year and a half should be enough time to prepare. She said revenue was already predictable thanks to the company’s multi-year deals and healthy renewal rates.
“We will be profitable in the future,” Banks said.
Abnormal said in August that it had achieved over US$200 million Annualized revenue increased by more than 100% year-on-year. At the time, Abnormal said the company was valued at $5.1 billion. Investors include mass strikeGreylock Partners, Insight Partners, Menlo Ventures and Wellington Management.
After seven years at ServiceNow, Banks eventually became senior vice president of finance before spending nearly three years at restaurant payments startup SpotOn. Banks said she’s eager to get back into enterprise software.
Abnormal is led by Evan Reiser, who worked in product management at Twitter for nearly three years and co-founded the company in 2018. Banks said Reiser cared deeply about his customers and spent a lot of time with his chief information officer and security chief. Over time, Abnormal expects to expand beyond email security, she said.
In her role, Banks plans to work with bankers and learn from the CFOs who have taken companies public. She said her finance team is busy implementing forecasting tools that could become critical once the company goes public and gets used to providing guidance to investors.
Abnormal operates remotely, with offices in San Francisco and Las Vegas, and we work space in San Jose, Calif., Banks said. The company reached 1,000 employees earlier this month, a spokesman said.
Banks’ predecessor is Smita Sanadhya, who Octa In February 2024, he resigned seven months later. Sanadhya now works as a consultant.
