Goldman Sachs-backed CounterTack is planning to accelerate its growth through a $15 million cash injection, bringing total funding up to $50 million to date.
Led by TenEleven Ventures, the company provides real-time endpoint detection and response technology for companies investing in Big Data. Big Data, the collection and analysis of vast amounts of information, is used by companies to detect patterns and trends in markets which allows firms to then tailor business practices to boost productivity and revenue. However, Big Data can also be used by security companies to detect threat patterns and anticipate cyberattacks.
As security evolves beyond the confines of local networks, Waltham, Mass.-based CounterTack is one such company looking to capitalize on Big Data to improve the security of the enterprise.
The company's Sentinel platform aims to improve network visibility and context around the behavior of endpoint devices -- such as laptops, servers and mobile devices -- in order to reduce the impact of advanced attacks and "give teams an opportunity to defend the enterprise before incidents escalate."
Such a concept appears to have captured the interest of investors, of whom currently include Goldman Sachs, Fairhaven Capital, Siemens Venture Partners, the investment fund of the US Army OnPoint Technologies and Alcatel-Lucent. TenEleven Ventures, EDBI and Mitsui have now also joined the CounterTack investment fold.
A Series C round of funding valued at $15 million has now closed, and the company plans to use the additional investment to accelerate its go-to-market plans, further global expansion and continue expanding the CounterTack portfolio of next-generation endpoint detection and response systems for enterprise clients.
Within the news release, Senior Security Analyst at 451 Research Adrian Sanabria said the Big Data approach "cuts through the typical security alert 'static' to give analysts accurate intelligence about threats across the entire enterprise, in real-time."
"The rapid digitization of economies poses cybersecurity challenges to businesses globally," said Chu Swee Yeok, CEO and President of EDBI. "The presence of leading cybersecurity companies such as CounterTack in Singapore, with its unique endpoint threat detection and response solutions, will help strengthen business resilience against rising cyber attacks. We look forward to realizing CounterTack's Asian growth plans through our extensive network in the region."
CounterTack has secured almost $50 million in funding to date.
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