PANews reported on March 18 that Xbow, a startup building AI software to detect application security vulnerabilities, has completed a new funding round, valuing the company at over $1 billion, demonstrating investor enthusiasm for using AI in cybersecurity. Xbow announced on Wednesday that DFG Growth and Northzone led the $120 million funding round. Other participants included Alkeon Capital and Sofina, as well as existing investors Sequoia Capital, Altimeter Capital, and NFDG. The startup currently has approximately 150 employees and expects to reach several hundred by the end of the year. Xbow CEO De Mohr stated that Xbow already has over 100 clients, including Moderna and Samsung Electronics, and is seeing strong demand in South Korea.