Vorstack Announces $5.2 Million Funding Round
Funds Used to Scale Automation and Control Platform for Enterprise Collaboration
LOS ALTOS, Calif., April 29, 2014-- Vorstack, the provider of a new breed of enterprise security products, announced a $5.2 million round of funding today. The financing round, led by Glenn McGonnigle and Tom Noonan of TechOperators, includes participation by security leader EMC Ventures as well as funding from previous Vorstack investor Aligned Partners.
Enterprises report that it costs upwards of $3,000,000 to defend against a $1500 attack. Vorstack offers information security professionals dramatic improvements in the time and cost it takes to identify and remediate salient threats. By using secure threat collaboration coupled with sophisticated automatic threat analysis, Vorstack's platform speeds discovery time and reduces the risk of cybersecurity threats.
"The cyber criminals are coordinating their attacks using the latest technologies," said Joe Eandi, CEO of Vorstack. "Enterprises are using Vorstack to effectively coordinate defenses by overcoming the automation, regulatory and business process hurdles that prevented effective collaboration in the past."
"With the recent security nightmare of the Heartbleed situation, and all of the recent data breaches in which millions of people have had their credentials stolen, I am happy to see a company like Vorstack emerging who is focused on automating the analysis of threat and fraud intelligence and enabling collaboration across industries," said Jon Oltsik, senior analyst, Enterprise Strategy Group. "The more security information that can be automatically absorbed and shared by a company's IT department, the better they will be at staying one step ahead of the bad guys and protecting their assets."
"Companies across all industries are beginning to understand the need to collaborate in their defense against cyber-threats," said Glenn McGonnigle, General Partner of TechOperators and new Vorstack board member. "We believe Vorstack's real time analysis and analytics enabling companies to automate and secure effective and private collaboration is game changing for cyber-security."
Vorstack provides a coordinated defense against a coordinated offense for enterprise cyber-security. The Vorstack automation and collaboration platform dramatically reduces the time it takes enterprises to identify and remediate security threats. Vorstack enables secure and anonymous collaboration and ensures control and protection of shared information. Vorstack reduces discovery time, remediation time, and overall risk to cyber-threats. For more information, visit www.vorstack.com.
An early-stage venture capital firm, TechOperators was founded on the premise that proven operators make the best partners for technology entrepreneurs. Based in Atlanta, Georgia, the firm is led by an expert team of partners with decades of hard-fought operating success and experience founding, building and running world-class venture backed software companies. For more information visit www.techoperators.com.
About Aligned Partners
Aligned Partners is an early-stage venture fund focused on highly capital-efficient companies in the enterprise mobile and cloud computing sectors. Founded by experienced investors with deep venture and operating backgrounds, Aligned Partners helps its portfolio companies achieve tight product-market fit, clear value propositions, rapid growth, and strong company-investor alignment. Aligned Partners is based in Menlo Park, California.
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