ThreatStream, a SaaS-based cybersecurity startup that hangs its hat on crowdsourced cyberintelligence, announced that it has secured $4 million in Series A funding from investors including Google Ventures, Paladin Capital Group, Cloudera CEO Tom Reilly and Hugh Njemanze, the former CTO and founder of ArcSight.
Company officials said the cash infusion will be used primarily to offer "a new layer of cybersecurity protection for the enterprise and government markets" so they can better identify, understand and safeguard against cyberattacks such as the ones that plagued Target, Neiman Marcus and other retailers late last year.
"Today's cyber defenses are only as effective as the data they capture," ThreatStream CEO Greg Martin said in a release announcing the funding. "Organizations will continue to be vulnerable if they can't track in real-time the dynamic attacks across the Web or recognize early threat indicators."
The Redwood City, Calif.-based company's Optic platform aggregates millions of threat indicators from the internet and integrates them with companies' existing security infrastructures, allowing organizations to analyze connections between the threats to make more effective and proactive data-protection decisions.
"The growing number of attack vectors have made current security models less effective," Karim Faris, General Partner at Google Ventures, said in a statement. "Instead of attempting to stop threats after they have breached your network, ThreatStream lets organizations look outside their own environments for a broader view of the attacks forming and put in place proactive defenses. It's a smarter way to analyze threats, and take action against them."
ThreatStream is just the latest in a string of security startups benefitting from a sharp spike in venture capital investment over the past year. In 2013, venture capitalists invested a total of $29.4 billion in 3,995 deals, up 7 percent in dollars and 4 percent in total deals.