Cyphort, a cyber security business, has closed $15.5 million in Series B funding. The funding round was led by Trinity Ventures with participation from existing investors Foundation Capital and Matrix Capital.
Cyphort, Inc. (http://www.cyphort.com), an advanced threat monitoring and mitigation platform, today announced that it closed in $15.5 million Series B funding. The oversubscribed round was led by Trinity Ventures with participation from existing investors; Foundation Capital and Matrix Capital. Fred Wang, General Partner of Trinity Ventures, will join Cyphort’s Board of Directors. The latest round of funds will be used to accelerate delivery. Additionally, the company announced the hire of Shishir Singh, former VP of Network Security Engineering from McAfee as Cyphort’s VP of engineering. The appointment is part of Cyphort’s strategy to aggressively expand sales, marketing and engineering to meet increasing demand from enterprise customers for advanced persistent threats (APTs) protection.
“Trinity Ventures is the ideal partner to join our current investors, and Fred’s knowledge of the enterprise space and strategic guidance will help us scale all facets of our business to transform the way enterprises protect their systems,” said Cyphort CEO, Manoj Leelanivas. “Enterprises are under constant attack from malicious software, compromising the security of sensitive information and exposing the company, its employees, and its customers to unprecedented levels of fraudulent losses. Signature and heuristic-based detection have proven unsuccessful in keeping pace with the complexity of advanced modern attacks. Cyphort’s approach is much more comprehensive and accurate in defending against these attacks.”
As the industry’s first and only advanced threat solution to combine best-in-class multi-OS threat detection, actionable threat intelligence, and distributed multi-application architecture, Cyphort delivers an unprecedented level of security to the enterprise. Cyphort’s platform leverages a unique blend of multi-phase behavioral analysis, machine learning, and correlation to provide businesses with real-time detection, context and mitigation for advanced malware attacks that bypass traditional security and first generation APT solutions.
“New and increasingly sophisticated cyber-attacks continue to evolve, leaving companies inadequately protected by their current anti-virus, intrusion protection, and first generation behavior-based solutions,” said Fred Wang of Trinity Ventures. “Cyphort is bridging a critical, emerging security gap with its new threat monitoring, detection and protection platform and we are excited to be a part of this opportunity.”
Within the past 12 months, the cost of Cybercrime in the US has risen by approximately 30%. Concurrently, Cyphort has experienced tremendous growth in customer interest and traction. To keep pace with market demand for its solutions in the face of such a dramatic increase in threats, Cyphort plans to hire in critical departments including Sales, Marketing and Engineering. The appointment of industry veteran Shishir Singh as Vice President of Engineering, who previously led engineering teams for well known security companies such as McAfee, IronPort, Cisco and Blue Coat, highlights Cyphort’s dedication in attracting and retaining top talent from the security industry.
For more information on all open positions, please visit: http://www.cyphort.com/join.
About Trinity Ventures
Trinity Ventures is a leading venture capital firm with nearly 30 years of experience investing in early-stage technology companies. Through 11 successful funds, the firm has maintained the industry’s lowest general partner-to-fund ratio, underscoring its commitment to entrepreneurs and founders. Trinity’s collaborative approach, based on personal engagement, mutual respect, and goal alignment, consistently delivers out-sized returns to entrepreneurs and investors. Trinity has worked with more than 250 companies, helping to transform revolutionary ideas into market-leading businesses. With more than $1.25 billion under management, the firm’s expertise focuses primarily on B2C, eCommerce, mobile, cloud and SaaS. Some of Trinity’s game-changing investments include: Act-On Software. Aruba Networks (ARUN), Blue Nile (NILE), Care.com, Extreme Networks (EXTR), Infoblox (BLOX). KIXEYE, MaxPoint, New Relic, Starbucks (SBUX), TubeMogul and zulily, For more information, please visit http://www.trinityventures.com.
About Cyphort, Inc.
Cyphort is transforming security with an advanced threat protection platform that provides complete defense against current and emerging advanced persistent threats, targeted attacks and zero day vulnerabilities. Cyphort’s solution accurately detects next generation malware, delivers actionable intelligence with the ability to verify, mitigate and prevent future attacks. Industry experts with backgrounds in advanced threat research from government intelligence agencies and premier network security companies have come together to build Cyphort’s security solution, designed to meet the yet unmet needs of protecting enterprises from today’s modern malware attacks.
Cyphort is a privately-held company headquartered in San Jose, California, USA. For more information, please visit: http://www.cyphort.com.