Damballa, the Georgia-based tech security company, named David Scholtz as the company’s CEO. Investors in Damballa include Sigma Partners, Adams Street Partners and Blumberg Capital.
ATLANTA-Damballa Inc., the recognized experts in advanced threat protection, today announced that its board of directors has named David R. Scholtz as chief executive officer.
“In my experience of over twenty years in the industry, Dave is one of the most talented executives I have had the pleasure of working with”
Scholtz previously served as the company’s vice president of global sales and alliances. Prior to joining Damballa, Scholtz held executive leadership positions at McAfee and Mercury, which achieved nearly $2.0 billion in cumulative revenue growth and were acquired for a collective $12.3 billion. Scholtz began his career at Accenture, later sold enterprise software and was a founder and CEO in two technology startups. His positions as president and chief executive officer and as a director on the Damballa board are effective immediately.
“The investors in Damballa believe that the company has an unprecedented opportunity for growth in the security market,” said Ron Nash, partner at InterWest Partners and director on the Damballa board. “The unique approach Damballa takes to protecting organizations against targeted threats is why all existing investors participated in the recent funding round. David Scholtz has a proven track record of building high performing teams, driving business strategy and delivering results. We are excited to have him leading Damballa.”
David Welsh, partner at Adams Street Partners and formerly EVP of business development and corporate strategy at McAfee Inc., joined the Damballa board during the recent funding round. “In my experience of over twenty years in the industry, Dave is one of the most talented executives I have had the pleasure of working with,” said Welsh. “I have complete confidence in his leadership, and his ability to attract top talent that will further accelerate Damballa’s growth.”
“I am honored to lead Damballa, which is well recognized for its talented team, innovative technology and outstanding customer loyalty,” said Scholtz. “The security industry is in the midst of a paradigm shift. If you rely on seeing the malware, you’ve already lost the battle. Prevention-based security solutions are ineffective in stopping advanced threats and targeted attacks. Damballa offers the only solution that automates the discovery of the highest risk devices that are under criminal control. Damballa has an enormous opportunity to lead the industry as it moves from a prevention-based mentality to a detect-and-respond security posture.”
About David Scholtz
David Scholtz is CEO of Damballa Inc. He has 25 years of technology industry experience and a track record of success implementing leveraged go-to-market strategies. Over the past 10 years, Scholtz was a member of the global leadership teams at McAfee, HP Software and Mercury. While at McAfee and Mercury, the companies achieved nearly $2.0 billion in cumulative revenue growth and were acquired for a collective $12.3 billion. As SVP, global alliances at McAfee, Scholtz’s organization was responsible for alliances, joint go-to-market offerings, technology integrations, and embedded/OEM sales with McAfee’s strategic partners worldwide. Prior to McAfee, Scholtz was VP, worldwide alliances and channel programs at HP Software, which had acquired Mercury Interactive, where David was VP, Americas alliances and channels. Scholtz started his career at Accenture (then Andersen Consulting), later sold enterprise software, and was a founder of two technology startups. Scholtz graduated with a degree in International Relations from Stanford University.
Damballa is the only solution that automates the discovery of an organization’s highest risk devices under criminal control. As the experts in Advanced Threat Protection, Damballa tracks and analyzes evidence of malicious traffic in real time, profiling the criminal actors in corporate networks, and rapidly identifying the compromised devices that represent the biggest risk.
Our patent-pending solutions automatically detect and terminate criminal activity, stopping data theft and providing the forensics needed to expedite incident response and remediation. Damballa protects any type of server or endpoint device including PCs, Macs, Unix, iOS, Android and embedded systems across corporate, ISP and telco networks. Damballa protects more than 300 million endpoints worldwide at mid-size and large enterprises in every major market. http://www.damballa.com.