AI-powered cybersecurity company Doppel has raised $35m in a Series B funding round to strengthen its social engineering defence platform for enterprises.

The round was led by Bessemer Venture Partners, with participation from 9Yards Capital, Sozo Ventures, and existing investors including a16z, South Park Commons, Strategic Cyber Ventures, Script Capital, and Sabrina Hahn. Doppel’s valuation now stands at $205m, bringing its total funding to $54.4m.

Doppel specialises in tackling digital threats like phishing, deepfakes, and brand impersonation. Its platform, Doppel Vision, identifies and eliminates attacker infrastructure across channels such as domains, email, social media, and apps, combining large language models (LLMs) with expert human analysis to deliver real-time protection.

The company plans to use the funds to scale its platform and meet growing enterprise demand. Since its Series A in January 2024, Doppel has seen 400% growth in enterprise customers, 3X growth in annual recurring revenue, and an 8X increase in expansion revenue.

Bessemer Venture Partners partner Elliott Robinson said, “Doppel is quickly emerging as the market leading social engineering defense company by leveraging its proprietary AI-powered approach that is critical in today’s environment as these new threats become increasingly sophisticated for corporation’s brands, executives and employees.”

Doppel CEO Kevin Tian added, “We’re really excited to partner with Bessemer Venture Partners, a firm that understands what it takes to build a generational, category-defining company. We’ll use these funds to double down on our core products, serve the rapidly growing demand from enterprises across all sectors, and build the first social engineering defense platform.”