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Resecurity formed Partnership with Safety and Intelligence Network Africa (SINA) to Improve Cyber Threat Intelligence

Resecurity’s cyber threat intelligence solutions offer proactive notifications as well as complete and accurate visibility of digital risks aimed at a firm’s ecosystem. Administrators can minimize the potential weak spots and security gaps by rapidly seeing in-depth analysis and specific artefacts obtained from the dark web, network intelligence, botnet activity, and high-quality threat intelligence data on the innovative platform.

The partnership between Resecurity and SINA seeks to raise awareness about numerous security challenges and threats, accelerate professional growth of security professionals, and foster knowledge transfer in order to promote African stability and security. Through the partnership, Resecurity will provide advanced cyber threat intelligence and solutions for law enforcement and national security agencies to SINA.

“Providing public and private organizations the tools they need to secure their cyber ecosystems is essential to not only support our country’s digitalization but protect our data. By partnering with Resecurity, we will help organizations mitigate these risks through dynamic cybersecurity SaaS solutions and training. SINA is excited to work closely with Resecurity to help our students build their security skills and become cyber resilient,” said Alexander Frimpong, CEO of SINA.

Resecurity and SINA’s collaboration seeks to spread awareness about various security challenges and threats, accelerate professional development of security professionals, and foster knowledge transfer in order to support African stability and security. SINA will benefit from Resecurity’s advanced cyber threat intelligence and solutions for law enforcement and national security agencies as a result of the partnership.

“We are proud to partner with a leading organization like SINA to provide best-in-class cyber intelligence solutions and knowledge sharing. This is an exciting time due to the rapid growth of Africa’s digital economy, and also a crucial time for security professionals as they prepare for the imminent cyber threats that will come with this growth. Together, we can ensure Ghana’s organizations and professionals have the tools, data and skills they need to combat cyber threats,” said Gene Yoo, CEO of Resecurity.

Resilience Raised $80 Million In Series C Round

Resilience, a leading cyber insurance and security solutions firm, announced the completion of  $80 million Series C funding round led by General Catalyst and Corey Thomas of Rapid7, with participation from Founders Fund, Charles River Ventures, Lightspeed Venture Partners, Shield Capital, and Intact Ventures.

The investment comes as Resilience moves forward with plans for mid market expansion and international expansion. Middle-market businesses – manufacturing, universities, agriculture, hospitals, and construction – are the backbone of the American economy. As ransomware attacks are rising, the hardened cyber insurance market has allowed newcomers with a fresh perspective to make it to the top.

“We took a deliberate approach entering the middle market. Our clients are discerning buyers with sophisticated infrastructure. We proactively connect their security posture with their insurance policy, not as vendors, but as partners. That personal, integrated approach of transparency and action is what makes us so. This funding round signals that the market is ready for our insure + secure model different,” said Vishaal “V8” Hariprasad, CEO of Resilience.

Resilience has created an Insure + Secure business model that offers its clients with both tailored insurance and security solutions. From risk assessment to post-bind vulnerability monitoring, a team of in-house security engineers works with clients.

“Resilience is building the leading cyber risk and response platform for the insurance industry, helping mid-market enterprises identify and integrate the best insurance and security solutions for their business needs. It’s more than risk mitigation – it’s bespoke security solutions combined with an insurance policy that provides clarity and certainty. General Catalyst is proud to co-lead this funding round with Corey Thomas as we believe Resilience’s integrated model is the future of cyber risk,” said David Fialkow, Managing Partner and Founder at General Catalyst.  

“Resilience’s expertise, combined with an innovative approach to cyber risk, deliver unparalleled value for clients. The team has seen tremendous progress in the past year, setting the course for responsible and profitable growth. Intact Insurance Specialty Solutions is pleased to be a carrier partner,” said Michael Miller, CEO, Global Specialty Lines, Intact.

“At Intact Ventures, we are thrilled to increase the size of our commitment and to invest in a world-class team building a category-defining business,” said Justin Smith-Lorenzetti, Intact Ventures.

This financing enables Resilience to accelerate delivery of Insure + Secure solutions more broadly in North America and now globally.

SCYTHE Secures $10 Million Series A Investment for Expansion of Enterprise-Level Cybersecurity

SCYTHE, a leading company in adversarial emulation, announced the firm has secured $10 million in Series A funding, led Gula Tech Ventures and Paladin Capital Group. SCYTHE will appoint a member of the Energy Impact Partners (EIP) management team as a Board Observer. Energy Impact Partners (EIP) has invested in  Series A funding round.

SCYTHE makes it possible for offensive security, defensive security, and hybrid “purple” teams to quickly create and simulate real-world cybersecurity threats. This assists clients in validating their company’s and workers’ risk posture. SCYTHE’s advanced attack emulation platform for the enterprise and cybersecurity consulting sector will benefit from the new funding, which will allow the business to grow its engineering, sales and marketing, and customer service operations.

“We are delighted by our investors’ enthusiastic support of our growth as cybersecurity risks and ransomware continue to grow significantly. What the team has been building is truly transformative and bringing on EIP’s market insights will speed that deployment and adoption in the industry,” said Bryson Bort, CEO and Founder, SCYTHE.

Ron Gula, President and Co-Founder of Gula Tech Adventures, who also sits on SCYTHE’s board of directors said, “SCYTHE and its attack emulation platform have an outstanding track record of enabling enterprise to protect itself and we are so pleased to be partnering up with EIP in order to help bolster the security of US critical infrastructure,”

“SCYTHE has demonstrated a powerful working solution that can proactively defend any organization against the most advanced cyber threats targeting US and global digital infrastructure. Paladin is proud and excited to support SCYTHE in its continued impressive growth,” said Christopher Steed, Chief Investment Officer and Manager Director, Paladin Capitol Group.

“Security teams are struggling to validate the efficacy of security tools and are experiencing significant tech sprawl. SCYTHE’s agentless approach helps security teams validate the efficacy of such tools and justify spend. We’re very excited to partner with the Scythe team and look forward to helping them bring their technology to critical infrastructure sectors,” says Harry Giovani, Managing Partner at Energy Impact Partners.

Valeo Networks Acquires On Time Tech

Valeo Networks, a leading Managed Security Service Service Provider (MSSP), announced the acquisition of another MSSP company On Time Tech, based in California (MSP). The financial details of the acquisition are kept private.

Valeo Networks has added two more California sites as a result of its current acquisition of another highly recognised MSP. This acquisition furthers Valeo Networks’ mission of developing a national network of IT and cybersecurity specialists to holistically support and secure its client base.

Valeo Networks’ fifth acquisition will continue to function under the name DBA On Time Tech (A Valeo Networks Company).  On Time Tech focuses on providing IT solutions for customers in financial services, healthcare, architectural, and non-profit businesses.

“As we continue to advance our nationwide growth strategy, working with outstanding companies like On Time Tech will help us achieve that goal. This acquisition further strengthens our well-established California presence, and expands our resources in the areas of cybersecurity, managed services, cloud solutions, and compliance. With their customer-centric approach, the On Time Tech team is an excellent fit within our organization,” said Travis Mack, CEO, Valeo Networks.

Lance Stone, President, On Time Tech said, “I am excited for On Time Tech to join forces with Valeo Networks and be part of something bigger. With a nationwide presence, focus on cybersecurity, and breadth of resources to pull from, we will be able to better serve our clients and give our staff additional opportunities for growth. While getting to know Valeo’s leadership team, I found that they are also passionate about providing top-tier services for clients and especially appreciate that the company culture and vision is a solid match to ours. I look forward to the next chapter of our journey!”

Cybersecurity Company Netrust Announced Partnership With Leading Biometric Technology Firm IDmission To Improve Cybersecurity Solutions

A renowned provider of cybersecurity services in the Philippines, Netrust Philippines Corporation, has partnered with IDmission to provide improved security solutions to its clients in the Philippines and the wider ASEAN market. Due to increased cyber risk, digital transformation and remote work became the norm in many firms during the past year as a result of the pandemic.

“In this age of digital transformation, it is imperative for leaders to put a digital-first approach to stay competitive. As such, we in Netrust, whose main focus is on securing Identities, are thrilled with our partnership with IDmission, a leader in the eKYC and identity proofing space. This partnership will complete our Identity portfolio and allow us to provide the best technology for a seamless customer onboarding journey. Our partnership will provide that competitive edge for our clients to serve their own customers in the most efficient and secure manner,” said Ms. Jennifer Tongco, CEO of Netrust Philippines Corporation.

Using standard compliant security, passive liveness biometrics, artificial intelligence, and industry expertise, IDmission creates a seamless end-to-end encrypted identity verification procedure.

Because of this partnership, Netrust’s security will improve to the next level protecting the digital identities, applications and data of all of its clients. To combat the threat posed by increasingly sophisticated cyberattacks, new and more complex detection systems are needed. IDmission’s biometric identity verification system uses biometric identifiers to increase security, speed up the verification process, and prevent attackers.

“IDmission has been serving customers in the Asia Pacific for a few years. The Netrust partnership is a big step in the direction of providing new and existing customers better access to state-of-the-art identity technology and local support.” says IDmission CEO Ashim Banerjee,

SecurEnds Raises around $21 Million in Series A Funding to Democratize Identity Management and Cloud Governance

SecurEnds, a cloud-native Identity Governance firm, announced that it has raised around $21 million in a Series A round led solely by Elephant. The investment follows a 340 percent rise in annual recurring revenue y-o-y, making it one of the largest A-rounds in Atlanta’s expanding cybersecurity and digital startup sector to date. SecurEnds, which was formerly self-funded by its founders, today has approximately 100 customers and maintains important technological and reseller connections all around the world.

SecurEnds automates user access reviews, entitlement audits, access requests, and segregation of duties for the world’s most forward-thinking enterprises. The platform helps firms save time and money on adoption and maintenance while lowering audit expenses by up to 60%. The funds will be used to increase operations and product development, as well as geographic expansion into untapped regions across Europe and Asia, in order to fulfil the fast increasing demand. 

“We’ve built the industry’s first fully-cloud-native and configurable Identity Governance platform, empowering organizations to secure identities, protect against data breaches, and meet security and compliance needs. The platform’s ease of use allows organizations to rapidly build identity-driven cyber risk and compliance programs. We’re thankful to Elephant for embracing our vision of democratizing Identity and Cloud Governance and look forward to working together as we continue to scale,” said Tippu Gagguturu, co-founder and CEO of SecurEnds.

SecurEnds plans to roughly increase its employment in the next 12 months, filling more than 125 sales, marketing, and product engineering positions in the US and around the world. Elephant Partners Jeremiah Daly and Christopher De Souza will join the Board of Directors as part of the deal.

“SecurEnds’ rapid growth over the past two years has been particularly impressive when considering the many challenges brought on by the COVID-19 pandemic and the highly competitive cybersecurity landscape. Both Chris and I believe Identity Governance is becoming more critical to businesses around the world and needs disruption. SecurEnds provides that disruption by delivering an innovative and elegant cloud-native solution that customers love. We are excited for a long and fruitful partnership that helps SecurEnds execute on their vision for the future of Identity Governance,” said Daly.

SecurEnds has created a versatile product based on AI and machine learning-enabled predictive analytics that outperforms incumbent legacy on-prem solutions in terms of ROI, time to value, and total cost of ownership. The cloud-native set of technologies integrates seamlessly with current customer applications such as Active Directory, ServiceNow, Ping, Workday, and Okta, among others, allowing businesses to meet their risk and compliance criteria.

“Customers gravitate to SecurEnds because we have simplified Identity and Cloud Governance by creating a business user centered product. We’ve carefully constructed our platform to have intuitive workflows that allow end-users without IGA expertise to meet compliance and security goals,” said Deven Reddy, co-founder and COO.

Nethone raises $6.7M Series A Funding to combat online fraud

Nethone’s passive behavioural biometrics enables online businesses to stop over 95.3 percent of account takeovers (ATO), which have been spreading at an alarming rate around the world. Aside from ATO, the Polish fraud fighter has been prospering in its payment and financial application use cases, consistently demonstrating a fraud detection precision of over 10 p.p. greater than traditional methods.

Along with Innovation Nest, Plug and Play Ventures, Firlej Kastory, and numerous business angel investors, Atmos Ventures and ARIA are headlining Nethone’s most recent fundraising round. Nethone will use the Series A funding to accelerate its go-to-market activities and strengthen its exclusive Know Your User (KYUTM) profile technology, giving global leaders the tools, they need to fight fraudsters.

Given the pandemic-induced surge in demand for direct-to-customer online commerce (both web and mobile) and the associated next-generation financial services, COVID-19 elevated the importance of cybersecurity. Nethone has been able to more than double its customer base in the last year, as well as increase the volume of onboarded clients across the eCommerce, digital products and services, and financial services verticals.

Hubert Rachwalski von Rejchwald – Nethone’s CEO said, “The last year has seen an unprecedented spike in fraudsters’ activities. COVID-19 has fueled a ‘professionalization of fraud’ trend that Nethone has been observing systematically escalate since the company’s inception in 2016. “Barriers to entry for fraudster-wannabes have been steadily decreasing. More and more sophisticated SaaS-based tools became available for anyone with some financial resources at their disposal. Today, these are advanced technical solutions built by well-organized, highly experienced groups of rogue IT experts. Wrapped in a user-friendly interface and excellent customer support they allow for complex anonymisation and automation functionalities as well spoofing of historically trusted digital identities that most of the incumbent fraud detection solutions stand no chance of spotting.”

“The forward-looking answer to anyone who wishes to effectively transact online is to deeply understand every single user, as they browse the website or use a mobile app. Our KYU profiling technology gives access to first-hand real-time insights about what is really happening with the device, how this device interacts with the servers of the platform and, last but not least, what is the raw behavior – keystrokes, mouse movements, gyro or accelerometer readings, touches on mobile). These are currently over 5000 attributes that we are extracting passively in the background about every single user thanks to years of targeted research and engineering, Importantly our goal is never to affect the customer journey by staying invisible in the background nor invade end-user privacy thanks to the low-level nature of the attributes we collect” – adds Aleksander Kijek, Nethone’s CPO.

Apart from extending its go-to-market operations, the business intends to use the funds to accelerate roadmap advancement, with a focus on features that will optimise perceived value among the company’s target categories.

“With the post-COVID critical significance of fraud prevention and the fierce competition in creating the frictionless user experience, Nethone has a novel approach to profiling technology fueled by machine learning. And since Atmos is focusing on developing deep technologies in ML-driven commercial solutions, Nethone Profiler combined with the explainability of the machine learning models was an obvious choice for us. We are elated to join the team to arm online merchants with deep tech tools against fraudsters,” said Hadi Solh, Managing Partner at Atmos.

Dariusz Lewandowski, CEO of ARIA said, “The accelerated growth of eCommerce in the pandemic era – up 30% in value by 2020, naturally increases the scale of fraud in the digital space. Nethone solves the problem of online payment and identity fraud, with annual losses worth around $50 billion. Their technology provides maximum protection without affecting the end-user experience. I see huge potential for the application of this technology, including other companies in our portfolio – wherever payments are involved. I am impressed with Nethone’s highly motivated team, as well as the organizational maturity for an early-stage company. Nethone has proven successful in onboarding clients ranging from traditional banks to fast-growing start-ups across the globe.”

Macnica Networks and NightDragon Networks formed an Innovative Partnership to Expand Portfolio Company Go-to-Market Reach

NightDragon, a dedicated cybersecurity, safety, security, and privacy investment company, announced that it has entered into a partnership agreement with Macnica Networks, Japan’s largest distribution firm and a global technology solutions distribution company, to expand the reach of its portfolio companies in Japan.

Macnica Networks, a subsidiary of the Macnica Group, is a value-added distributor specializing in getting new latest technology to the Japanese market. Macnica Networks has a track record of accelerating net new growth for well-known technology startups in Japan and the Asia-Pacific area. It has seen great success in the cybersecurity sector, notably assisting market leaders such as FireEye, CrowdStrike, and Exabeam in launching their Japanese operations.

Macnica Networks will distribute the products of NightDragon’s portfolio firms in Japan as part of this cooperation, giving its clients access to cutting-edge cybersecurity technologies.

“The demand for cybersecurity, safety, security and privacy technologies is greater than ever before against a rapidly evolving threat landscape,” said Jun Ikeda, President, Macnica Networks. “NightDragon is unparalleled in its ability to recognize today’s market-leading and innovative products and we are proud to partner to make these technologies available to our customers and serve as a foundation for future go-to-market growth in the region,”

“NightDragon is committed to being a true venture partner to our portfolio companies, not only providing capital but also supporting their go-to-market growth needs to help them reach their maximum potential,” said Dave DeWalt, Founder and Managing Director, NightDragon. “By aligning ourselves with a global distribution leader like Macnica Networks, we are making it easier than ever for our portfolio companies to grow into new markets and achieve new levels of success.”

NightDragon plans to structure more partnerships as part of its newly formalised NightDragon Network, an exclusive community with partnerships and networking opportunities for its portfolio firms and executive leadership, to accelerate go-to-market and facilitate business operations for its companies around the world.