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Tag: Startup Funding

Snapattack Raised $8M Funding To Strengthen Collaboration Among The Next Generation Of Threat Hunters

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SnapAttack announced a $8 million fundraising round led by Volition Capital. SnapAttack recently announced a spinoff from Booz Allen Hamilton, and the funding was completed in conjunction with that announcement. Strategic Cyber Ventures (SCV) and Booz Allen Hamilton, which is maintaining its investment in the newly independent business, are among the investors in the round.

“Platforms that empower threat hunters and lead the cybersecurity industry to be more proactive will help turn the tide against the onslaught of attacks we’re seeing across the Federal government and commercial sectors. We believe SnapAttack can help lead the change from reactive to proactive,” said Roger Hurwitz of Volition Capital.

SnapAttack presently contains the world’s most comprehensive collection of labelled cyberattacks, allowing security companies to apply high-quality, validated analytics based on real hacker tradecraft. The platform’s user community is constantly improving and adding to analytic content, which can be confirmed, deployed, distributed, and shared right away.

SnapAttack is unlike anything else on the market since it combines offensive (red teaming) and defensive (blue teaming) tradecraft to find security flaws and strengthen advanced behavioural detections. The platform integrates SIEM, EDR/XDR, and cloud technologies and is vendor agnostic.

In today’s world, most businesses are constantly responding to incidents. SnapAttack is a proactive solution that consists of a security platform that focuses on attack emulation, detection-as-code, and the ongoing development and validation of sophisticated behavioural analytics. Organizations can use SnapAttack to give high-quality detection logic to their technology stacks, preventing assaults before they start.

“SnapAttack is poised to empower a new level of collaboration among the next generation of ethical hackers, threat hunters and security researchers providing advanced insights to stop attackers in their tracks,” said Fred Frey, CTO and founding member of the SnapAttack team.

The funding will be used to speed up platform development, allowing the company to better integrate security operations processes, manage the complete lifecycle of detection analytics, and improve reporting.

It also intends to integrate more threat intelligence and analytic content kinds into the platform in order to develop the most powerful and complete detections with the least amount of human input. To increase product adoption and build their customer base across Federal and Commercial markets, key team growth will be focused on product, engineering, and sales.

Ontic Raised $40M To Speed Up Product Development And Establish New Partnerships

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Ontic has raised $40 million in a Series B round of funding to expand and fulfil its aim of making businesses safer by providing intelligence to those who protect them. JMI Equity, a growth equity fund focusing on investing in leading software firms, is heading the investment. The round was also attended by Felicis Ventures, Silverton Partners, and Ridge Ventures.

Since its introduction in 2017, Ontic has grown at a 257 percent compound annual growth rate (CAGR) during the last two years, with over 300 new features and product updates released in 2021 alone.

“We are at an inflection point where unmanaged and rising security threats are pushing the boundaries of corporate risk and negatively impacting business continuity. The days of succeeding in protecting organizations with multiple solutions are over. The Ontic Platform is what’s needed to close the intelligence gap, bringing together real-time threat detection, management of cases and investigations, incident management and conducting of assessments all in one solution for enhanced collaboration across teams and a safer environment for all,” said Lukas Quanstrom, Ontic co-founder and CEO.

The Ontic Protective Intelligence Platform is a game-changing breakthrough that is setting a new technical standard in protective intelligence for Fortune 500 and rising business security teams. Data from several channels is combined into a single always-on platform by the Ontic solution to detect, assess, and mitigate potential physical threats. Individual events are connected when studied collectively, resulting in a clearer and potentially bigger danger narrative than if they were reviewed independently.

“Ontic is completely reshaping the ability for corporations to proactively identify, assess and track potential threats, also known as protective intelligence. We believe passionately in the Ontic mission and are thrilled to partner with the management team to build momentum and scale,” said Bob Nye, General Partner at JMI.

Ontic has raised almost $58 million in total, including prior fundraising rounds. This fresh investment will be used to expand Ontic’s footprint into new industry categories and geographies, as well as to speed up product development, form new collaborations, and hire new employees across multiple teams.

Stellar Cyber Raised $38 Million In Series B Funding Round To Grow Its Open XDR Success And Address Vital Demand To Provide 360-Degree Visibility Of Cyber Attack

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Stellar Cyber, the maker of Open XDR, the only Everything Detection and Response platform, has raised $38 million in Series B funding round led by Highland Capital Partners, with active participation from all current investors Valley Capital Partners, SIG, and Northern Light Venture Capital, as well as new strategic investor Samsung. Stellar Cyber has already raised over $68 million in total funding.

“Today’s complex attacks are virtually impossible to rapidly detect with the traditional approach of using siloed, stand-alone tools, and our customers are tired of spending a fortune on tool collections that fail to cut off attacks. The Series B investment enables Stellar Cyber to continue leading the Open XDR market by driving innovation, increasing our market footprint, supporting partner expansion and hiring extraordinary talent,” said Changming Liu, CEO and co-founder of Stellar Cyber.

“Stellar Cyber offers the industry’s first Open XDR platform, and the only one that truly accepts security data from all tools and sources as well as its own sensors “A broad range of enterprises and MSSPs are deploying the Stellar Cyber platform at the center of their security operations because it shortcuts the time and effort to find in-progress cyberattacks or rogue insiders at work while fundamentally solving the problem of too many non-productive alerts,” said Corey Mulloy, partner at Highland Capital Partners.

“Today’s stone-cold reality requires a fundamentally different approach that breaks down traditional siloes of security to aggregate all data into a single plane for deep behavioral analysis that can find active attacks quickly and accurately. Stellar Cyber has taken the lead to break the necessary barriers to gain a proven 360-degree knowledge of attacks to get an upper hand on attackers,” said Raymond Liao, MD, Samsung Next.

“I am excited to see the tremendous growth Stellar Cyber has had since our initial investment. What we saw in Stellar Cyber’s early days is now clear to everyone. We welcome all the new investors to help Stellar Cyber reach its full potential to democratize cybersecurity for any enterprise,” said Raymond Choi, Managing Director at Valley Capital Partners and an existing board member of Stellar Cyber.

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

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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.

Snyk Secures $75 Million Funding

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Snyk, the global leading developer security firm announced that it has raised $75 million in Series F Funding round from Atlassian Ventures and Salesforce Ventures. Snyk is committed to advancing developer security through equipping millions of development partners to build security early on without sacrificing the speed that their business needs to compete successfully. It pushes the value of the company to $8.6 billion, and the capital total to $850 million, more than 10% of which come directly from Atlassian Ventures and Salesforce Ventures.

In close collaboration with Snyk, Atlassian, and Salesforce are have aim to facilitate the identifying, fixing and monitoring vulnerabilities in their existing workflows for the global developer population – estimated at 26.2 million by 2020 and expected to reach 43.2 million by 2025.

“For Atlassian and Salesforce, this investment in Snyk is more than just capital. Like Snyk, these two industry leaders are fiercely committed to empowering developers to embed security into the entire application. We are humbled by their true, long-term commitment to evolving the legacy security industry through a developer-led approach,” said Peter McKay, CEO, Snyk.

“The desire to do things differently inspires us, and Snyk is reinventing the way organizations think about security. They are a vital part of our ecosystem, tightly integrated into our core products. We’re thrilled to further support their journey and together increase the millions of developers that benefit from their work,” said Chris Hecht, Head of Corporate Development, Atlassian.

“As an early investor since the company’s Series B, we are excited to deepen our partnership and continue to support Snyk as the leader in developer security. Snyk’s vision to empower developers to drive greater agility and digital transformation resonates, and we are excited to support them as both an investor and customer,” said Alex Kayyal, SVP & Managing Partner, Salesforce Ventures.

S2W Inc. raised 10M in Series B funding

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The cyber security firm S2W Inc. has announced that it has raised more than $10 million of Series B funding. KDB Development Bank, YG Investment, Magellan Technology Investing, Ltte Ventures and DS Asset Management participated in this round led by LB Investment.

S2W is a cybersecurity data analysis firm and has a competitive global position to detect and react to new cyber threats like Dark Web and Ransomware. S2W has secured clients through its technology and data collaborations in the field of funding, telecoms, manufacturing and electricity trade.

In March 2020, S2W attracted a total of 3.5 million dollars for Series A and was assessed by its successful closing of Series B in just one and a half years for its high growth.

“S2W has the technology to work on the global stage and I expect them to play a huge role in the Metaverse society,” said Deok-soo Jang, chairman of DS Asset Management.

Ki-ho Park, CEO of LB Investment said, “S2W is now showing the compressed growth process of Palantir’s in the U.S. and is expected to expand into various fields such as blockchain, e-commerce, games, and entertainment in the future. And we will continue to support S2W to be the global leader in the industry.”

“We will focus on rapid growth, and we will prove to the world that companies pursuing the value of justice are superior in competitiveness and sustainability,” said Sangduk Suh, CEO of S2W.

Rezilion Secures $30 Million In Series A Funding to Automate DevSecOps

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Rezilion, a cyber startup that uses automation to change DevSecOps, today received $30 million investment in Series A funding led by Guggenheim Investments. Current and former cybersecurity professionals and luminaries from Google, Microsoft, CrowdStrike, IBM, Cisco, PayPal, JP Morgan Chase, Nasdaq, eBay, Symantec, RedHat, RSA, and Tenable contributed to the round, as did new investment partners JVP and Kindred Capital.

With DevOps, code development has become fully automated, yet there is now a crippling bottleneck between engineering and security teams. Understanding, mitigating, and limiting the risk associated with the huge lines of code published by corporations every day is a constant problem, and it still involves extensive manual work by highly skilled engineers. As a result, businesses must choose between remaining secure and distributing products quickly.

Rezilion makes security as agile as DevOps by automating repetitive security bottlenecks. It is the only approach that significantly minimizes the amount of security effort necessary to deploy new digital products while maintaining the security of software platforms. Clients who use Rezilion’s vulnerability validation technology have decreased their patching backlog by more than 70% on average, freeing up important engineering resources to focus on product expansion.

“Rezilion’s product suite is a game changer for security teams. It creates a win-win, allowing companies to speed innovative products and features to market while enhancing their security posture. We believe Rezilion has created a truly compelling value proposition for security teams, one that greatly increases return on time while thoroughly protecting one’s core infrastructure,” said Rusty Parks, Senior Managing Director of Guggenheim Investments.

“At Rezilion, we are deeply committed to helping organizations drive their own innovation by reducing the resource drain, inaccuracies and operational friction created by manual security work. We know there’s never been a better time for organizations to experience what we call ‘trust in motion,’ or the peace of mind that comes from moving fast while staying safe and secure,” said Liran Tancman, co-founder and CEO of Rezilion. “

“Our technology brings developers and security teams together. This funding round will allow us to dramatically accelerate our vision by advancing product development and driving growth on a global scale,” says Shlomi Boutnaru, co-founder and CTO of Rezilion.

“Rezilion’s pioneering approach generates a host of benefits to meet the needs of CEOs, CIOs and CISOs, from expediting digital transformation, faster product rollouts and enhanced productivity and compliance to the adoption of state-of-the-art development best-practices and the guarantee of better security and improved ROI. Under the proven leadership of Liran and Shlomi, we look forward to expanding Rezilion’s markets and offerings to provide more value based on its unique technology,” stated Yoav Tzruya, General Partner at JVP.

The funds will be utilized to rapidly accelerate Rezilion’s go-to-market strategy, including partnering with other DevSecOps solution providers and expanding operations across the US and Europe. Additional product development attempts to bridge the gap between security and engineering, increasing the productivity of both teams so that software can be delivered on time and businesses can innovate more quickly.

Neosec raises $20.7 Million in Series A Funding To Protect APIs Against Business Abuse And Data Theft

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Neosec announced that it has emerged out of stealth mode and closed a $20.7 million Series A funding round led by True Ventures, New Era Capital Partners, TLV, and SixThirty, as well as security gurus Mark Anderson, Gary Fish, Mickey Boodaei, Rakesh Loonkar, and Shailesh Rao.

The firm is taking a different approach than today’s traditional application security products, which often rely on signature-based approaches to secure a perimeter. Instead, Neosec uses known XDR (Extended Detection and Response) security approaches, such as precise behavioural analytics, to uncover vulnerabilities and business abuse hidden within APIs.

“Today’s new applications are all API-driven, which creates a new attack surface that puts business fundamentals at risk. Traditional application security techniques are scarcely relevant in a cloud and API-first world,” said Brian Sack, principal at TLV Partners.

APIs are the foundations of digital business, and they enable to accelerate innovation and software development by allowing organisations, partners, and services to communicate seamlessly. While several security solutions promise to secure APIs today, the majority rely on traditional signatures, allowing API calls to proceed without any practical checks of their usage. These systems have no way of detecting bad conduct in APIs, so they let authenticated clients engage with them as they see fit, presuming they’re safe and allowed. 

“Today, APIs contain both money and data as well as govern key interactions within a business and to customers, partners and suppliers. Every API is a window into an organization’s business systems and potentially exposes key business logic and processes. Ignoring this blind spot is no longer an option, so the need for a new approach to API security is critical,” said Puneet Agarwal, partner at True Ventures.

Neosec learns every API user’s and client’s baseline behaviour automatically, correlating and profiling different entities such as users, customers, business processes, and partners. It allows users to see, investigate, and hunt for threats utilizing precise timelines of each user entity’s activities.

“One of the greatest challenges facing cybersecurity is the severe lack of logical visibility and behavioral assessment of APIs. Existing technologies were not created to address the incredible exposure organizations now have through their APIs. We created an entirely new approach based on data analytics to provide a complete understanding of all API interactions. It is fully automated, SaaS delivered and able to protect increasing exposure through digital business,” said Engel.

Corelight Secures $75 Million in Series D Funding Led by Energy Impact Partners

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Corelight, a provider of an open network detection and response (NDR) platform, has secured $75 million in a Series D funding round led by Energy Impact Partners (EIP).

In addition to new investor H.I.G. Growth Partners and strategic investment from Capital One Ventures, CrowdStrike Falcon Fund, and Gaingels, previous investors Accel, General Catalyst, Insight Partners, and Osage University Partners joined the round. Corelight has received a total of $160 million to date, with this newest round allowing the company to expand its global market presence as well as develop additional data and cloud services.

“This latest investment is a powerful affirmation not only of the network detection and response category, but also of our open source heritage, data-centric approach, and commitment to customer success. I am grateful for our investors’ partnership as we help organizations around the world move to a data-driven security strategy,” said Brian Dye, CEO of Corelight.

Investor in charge EIP is an international investment platform supported by a strong coalition of forward-thinking utilities and partner organisations, with a concentration on cybersecurity, digital transformation, utility infrastructure, and the broader energy transition.

“EIP’s focus on critical infrastructure providers is highly aligned with both our mission and market traction. Helping these institutions defend against increasingly sophisticated attackers is essential given their role in society and the economy,” said Dye.

“Corelight’s strong NDR technology, rooted in open source, has had a significant impact across industries and is rapidly becoming the de-facto standard for sophisticated defenders. We look forward to supporting them as they expand their existing footprint within the sustainable energy, manufacturing and other critical infrastructure sectors,” said Shawn Cherian, partner at EIP.

“Corelight helps some of the world’s most advanced companies protect and secure their networks from cyber threats. By leveraging Zeek, the industry’s leading open-source data platform, Corelight is uniquely positioned to help security operations teams become more efficient in threat inspection, response, and remediation. We have been incredibly impressed by the company’s exceptional growth and are excited to partner with a world-class organization,” said Scott Hilleboe, managing director at H.I.G. Growth Partners.

“These strategic investors mirror our strategy, market focus and values as an organization. Each brings a unique perspective that will improve our ability to deliver data-centric security,” said Dye.

“Corelight and CrowdStrike’s strong shared commitment to data-centric security makes this a strong fit within the Falcon Fund portfolio. We are excited to support Corelight’s continued innovation in the NDR category and the growth of their new data and cloud offerings. As cyber threats increase in number and complexity, the importance of solutions like Corelight have never been greater, providing increased visibility and comprehensive data that allows organizations to identify vulnerabilities and resolve security issues faster,” said Michael Sentonas, CTO at CrowdStrike.

“We root our decisions on which companies we invest in based on the impact we believe those companies will have on their customers. Partnering with Corelight in this round is a natural extension of the work we have been doing with open source NDR tools and the investments we have been making in strong cyber security solutions. We are thrilled to work with Corelight on new opportunities,” said Jay Emmanuel, partner at Capital One Ventures.

“As the largest investor network focused on supporting and investing in the best venture-backed companies that embrace and value diverse leadership, including LGBTQ+, Gaingels is proud to be participating in this financing round with Corelight. Our team is resolved on helping the company grow and scale while strengthening its prospects of success by building a culture that reflects the diversity of its executive teams, staff and customers,”said Lorenzo Thione, managing director of Gaingels.

Monad Emerges from Stealth with $17M to Develop Security Data Platform in the Cloud

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Monad, Inc., a security data cloud developer, has raised $17 million in a Series A round of funding. Index Ventures led the investment, which also included Sequoia Capital and was helmed by security veterans Christian Almenar and Jacolon Walker. The Monad platform makes it easy to construct security apps and compliance procedures by allowing clients to connect data from numerous security technologies into any data warehouse.

The latest capital, which makes the total financing $19 million, comes 12 months after the Sequoia-led seed round and allows the firm to extend its security data cloud platform development initiatives. Shaun Maguire, a partner at Sequoia Capital, and Carlos Gonzalez-Cadenas, a partner at Index Ventures, will join the Monad board of directors as board observers.

“Security is fundamentally a big data problem,” said Christian Almenar, CEO and co-founder of Monad. “Customers are often unable to access their security data in the streamlined manner that DevOps and cloud engineering teams need to build their apps quickly while also addressing their most pressing security and compliance challenges. We founded Monad to solve this security data challenge at scale and liberate customers’ security data from siloed tools to make it accessible via any data warehouse of choice. We’re excited to partner with such an experienced team of investors as we look to accelerate the use of our data security cloud platform and deliver it to companies of all sizes.”

The Monad platform allows teams to collect and connect data from critical security technologies, centralize that data in a data warehouse of choice, and standardize and improve data so that security teams have the detailed insights they need to properly secure their systems and data. Monad makes these security insights accessible, accurate, thorough, and repeatable. Monad also enables security operations teams to make better use of their security tool sets’ full capabilities based on the current state of their environment.

“There are more security tools than ever, but because of the complexity of the environments and the siloed nature of the different security tools, breaches continue to happen. Cybersecurity is fundamentally a data management challenge that Monad is poised to solve. Their cloud-native security data platform makes it easy to extract the data from the different security tools already adopted by organizations, integrate it into a clean, connected model and unlock its hidden value. We believe that the Monad team is ready to lead this journey, and we’re pleased to announce that we’re leading their A-round investment and the launch of their platform,” said Carlos Gonzalez-Cadenas, partner at Index Ventures.

“Most Fortune 500 companies have hundreds of security vendors, which makes centralizing and operationalizing data from these applications a daunting challenge. Monad solves this problem at scale by connecting data from various security tools and providing precise insights to security teams. Christian and Jacolon have made significant traction since the seed and we’re thrilled to double down as they take on a massive market opportunity,” said Shaun Maguire, partner at Sequoia.

“Innovations in data analytics are transforming departments across the enterprise but cybersecurity has been largely left behind. I regularly speak with security teams that rely on log management tools for threat detection, incident response, compliance automation and security metrics but remain held back by visibility challenges and lack of automation. It’s exciting to see how easy Monad makes it for security analysts to join the rest of the company on Snowflake. Now, InfoSec and DevOps teams can build data-driven security and compliance applications limited only by their imagination,” said Omer Singer, Head of Cybersecurity Strategy at Snowflake.

InfoSecurity Outlook Magazine focuses on keeping track of Information Security, Data Security, Cloud Security, IoT Security and Fraud Management related technology to help entrepreneurs protect their organizational data from threats and misuse.

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