Security Vendors Continue to Attract Investors to Fund Their Efforts

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Security Vendors Continue to Attract Investors to Fund Their Efforts

This year ended strong for cyber-security vendors looking to raise new funding. Like recent months, December 2017 saw a number of cyber-security vendors raise funding, thanks to continued demand for new technologies that mitigate risks. Funding was spread across several sectors of the cyber-security market, highlighting the different areas that are growing, including cloud, internet of things (IoT), email management, multifactor authentication and security training technologies. The largest funding event in the month happened on Dec. 11, when Menlo Security announced it had raised $40 million in support of its web and email security isolation platform.  In this slide show, eWEEK takes a look at eight cyber-security vendors that raised money in December 2017.

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Ironscales Raises $6.5M for Phishing Threat Detection

On Dec. 5, Ironscales announced that it had raised $6.5 million in a series A round of funding to help advance its phishing threat detection technology. "The overwhelming majority of the world's most devastating cyber-attacks of recent years have begun with email phishing," Eyal Benishti, founder and CEO of Ironscales, stated. "Ironscales' multilayered and automated approach to email phishing mitigation utilizes machine learning technology that continuously gets smarter, empowering organizations to reduce cyber-security risk in the midst of the unprecedented frequency and complexity of attack."

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Alcide Emerges From Stealth With $5.2M in Funding

Data center and cloud security vendor Alcide announced on Dec. 6 that it raised $5.2 million in a seed round of funding. "The modern data center is where the world’s most critical data is stored and where the most lucrative information lives, yet it has evolved so rapidly and is now so complex that it’s become The Wild Wild West of cyber-security," said Ranny Nachmias, CEO and co-founder of Alcide. "The evolution of the modern data center calls for a parallel evolution in the approach enterprises take to secure and manage their data centers."

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Prevoty Raises $13M for Autonomous Application Protection

On Dec. 6, Prevoty announced it had raised $13 million in a series B round of funding to help the company continue to build and develop its autonomous application protection technology. Prevoty's technology provides runtime application self-protection (RASP) capabilities. "Our team has developed unrivaled expertise in application security, as well as a customer base of partners who help guide our efforts toward solving their most critical application security challenges," Prevoty Co-founder and CEO Julien Bellanger said. "Together, we’re changing application security."

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Menlo Security Raises $40M to Advance Malware Isolation Technology

Menlo Security announced on Dec. 11 that it has closed a $40 million series C round of funding, which it intends to use to grow its security isolation platform. "We are big believers that isolation is the only path forward on engaging with the outside world," Amir Ben-Efraim, CEO of Menlo, told eWEEK. "For us, we're going to continue to try to find more ways to apply isolation to more content and expand the concept across a wider spectrum."

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Simility Secures $17.5M for Fraud and Risk Management

Simility announced on Dec. 12 that it has raised $17.5 million to further its machine learning adaptive fraud technology developments. "Digital disruption in the financial and commerce sectors has resulted in the need for a fraud and risk management solution that goes beyond legacy, static rule-based offerings to offer protection in a digital first, big data analytics-focused environment," Rahul Pangam, co-founder and CEO of Simility, stated. "Simility is fulfilling that need with an innovative, game-changing, adaptive solution."

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Cog Raises $3.5M in Series A Funding for IoT Security

On Dec. 12, internet of things (IoT) security vendor Cog Systems announced that it raised $3.5 million in a series A round of funding. "We started by securing the most personal connected device—the smartphone—and now we’re building across a much wider range of devices, from automotive to home automation," Cog CEO Daniel Potts said. "By steering the security architecture from monolithic to modular, we have brought proactive security to governments and the enterprise without compromising the user experience."

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ShieldX Brings in $25M to Further Multicloud Security

Also on Dec. 12, cloud security vendor ShieldX announced that it raised $25 million in a series B round of funding. ShieldX's core product is Apeiro, which aims to provide a multicloud security platform. "ShieldX is continuing to gain strong momentum in the growing cloud security market," stated Ratinder Ahuja, CEO of ShieldX. "We purpose-built Apeiro with best-practice cloud principles, technologies and economics in mind so that organizations can reap the benefits of the cloud but also be confident that they are protected against all existing and emerging threats to their cloud infrastructure."

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Upstream Raises $9M to Advance Connected Car Security

On Dec. 13, Upstream Security announced that it had raised $9 million in a series A round of funding. Upstream is developing cloud-based security for connected and autonomous car deployments. "The automotive industry is going through a massive disruption. Consequently, security solutions for the car are undergoing rapid advances at an unprecedented rate," Upstream CEO and co-founder Yoav Levy said. "We’re using emerging technologies like AI and machine learning to carry out an evolutionary leap in cyber-security for passenger and commercial vehicles."

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18 Cyber-Security Trends Organizations Need to Brace for in 2018

The next year will bring many of the same cyber-security challenges as 2017, but with some new ones as well. Eighteen security experts share their predictions for the year ahead.
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