Bay Dynamics Raises $8 Million in Series A Funding to Fuel Exponential Growth
Company Will Leverage Funds to Expand Innovation and Address User Demand for Security Solutions that Make Protection Efforts Smarter and Faster
SAN FRANCISCO, July 15, 2014-- Bay Dynamics, the leading provider of information risk intelligence to the world’s largest organizations, today announced that it has raised $8 million in Series A funding from Comcast Ventures, the venture capital affiliate of Comcast Corporation. The company will use this investment to further solidify its position as the dominant security intelligence vendor through continued innovation, as well as enhancements to its industry-leading solution, Risk Fabric.
“The complexity of cyber attacks targeting organizations’ networks is forcing them to implement a myriad of security solutions that create a lot of noise, but do not provide context or help prioritize threats,” said Feris Rifai, Co-Founder and CEO of Bay Dynamics. “Bay Dynamics has always taken a different approach to improving customers’ security efforts, leveraging real user behavior coupled with data from multiple security tools. This dedication has driven exceptional demand for Risk Fabric. This funding from Comcast Ventures enables us to accelerate our innovation and continue to support the evolving security needs of our customers.”
Recently named a Gartner Cool Vendor in Security Intelligence, Bay Dynamics and its Risk Fabric solution enable users to identify potential risks and security events based on employee activities and behaviors across the organization, providing actionable information risk intelligence. Risk Fabric integrates directly with companies’ point solutions, and gathers and correlates data from these technologies to enable users to orchestrate coordinated responses. It also provides security solutions throughout the enterprise with a superior level of context to filter and prioritize alerts for faster, smarter protection.
Companies around the world are leveraging Risk Fabric to gather and correlate data from their security solutions, and orchestrate coordinated responses. With Risk Fabric, customers identify anomalies that could indicate insider threats, compromised systems or corporate espionage, and empower their IT teams to proactively monitor, manage and mitigate the highest priority risks instead of wasting resources sorting through routine security events.
“The unprecedented surge in cyber attacks targeting companies’ proprietary corporate and customer information has created a high demand for security analytics solutions,” said Dave Zilberman, Partner, Comcast Ventures. “In the face of these attacks, the team at Comcast Ventures wanted to partner with an organization that was taking a unique approach to solving these challenges and elevating customers’ protection efforts. Bay Dynamics is succeeding at this with its mature, next-generation security solution that helps large enterprises address the entire attack lifecycle -- and we’re excited to partner with them as they continue this endeavor.”
Bay Dynamics’ Risk Fabric solution has been proven in some of the world’s largest enterprise organizations, and is ready to provide deep visibility for corrective action, allowing any company to operate more securely and efficiently. For more information about Risk Fabric, visit http://www.baydynamics.com/Products/RiskFabric/.
About Bay Dynamics
Bay Dynamics™ helps the world’s largest organizations turn enterprise data into actionable information risk intelligence – ensuring the integrity of sensitive information assets and making certain they are being used in a way that creates business value. Proven among the Fortune 50, Bay Dynamics leverages its unique technology to detect and expose deviations from the norm and provide clear data visualization for risk prioritization, proactive management, and actionable insight into any business. For more information, visit www.baydynamics.com.
Christy Pittman, 703-877-8108
Venture Capital Database