Vectra Networks Raises $25M to Empower Enterprises in Their Battle Against Cyber Attacks
Accel Partners Leads Series C Funding With Eric Wolford Joining the Vectra Board; Latest Financing Further Validates Vectra's Unique Approach of Detecting and Prioritizing Cyber Attacks in Real Time
SAN JOSE, Calif., August 5, 2014-- Vectra Networks, the leader in real-time detection of cyber attacks in progress, today announced it has received $25M in an oversubscribed Series C financing round. Accel Partners led the financing round and Eric Wolford, partner at Accel Partners, has joined Vectra Networks' Board of Directors. Prior investors Khosla Ventures, IA Ventures and AME Cloud Ventures all participated in the round. In addition, Intel Capital and Juniper Networks, through its Junos® Innovation Fund, joined the round. The investment will accelerate research and development, sales and marketing to meet CIOs' growing demand for real-time detection of cyber attacks in progress.
"The increasing volume, creativity and effectiveness of online threats makes cyber security a Board-level IT priority for CEOs and CIOs," said Wolford. "As a result, innovators like Vectra Networks are driving massive disruption in enterprise security by using data science to give IT the upper hand against cyber attacks without having to scale out staffing."
"Determined attackers can get malware into organizations at will," according to Gartner in its Feb. 12, 2014 report, Malware Is Already Inside Your Organization; Deal With It. A strategic planning assumption in the report states, "By 2020, 60% of enterprise information security budgets will be allocated to rapid detection and response approaches -- up from less than 10% in 2014."
Vectra Networks detects attacks at every phase of an ongoing attack, regardless of how the attack enters an organization's network; and it detects attacks for all devices, operating systems and applications. The Vectra X-series platform continuously monitors an organization's network and provides rapid intuitive and prioritized reporting so security analysts can immediately respond to the highest business risks quickly, rather than spending valuable time sifting through thousands of alerts.
"I am thrilled to have the support of Accel Partners and have Eric join the Vectra board of directors," said Hitesh Sheth, CEO of Vectra Networks. "The reality today is that every network is breached. Advanced persistent attacks are evading existing perimeter security and threatening our digital economy. Vectra's automated and intuitive cyber security platform empowers IT organizations to take a proactive stand against cyber attacks."
Vectra Networks introduced the X-series platform in March at which time the Wall Street Journal declared Vectra Networks is "cybersecurity for the less well-heeled." Network World magazine named Vectra Networks one of "10 Security Start-ups to watch" and CRN recognized "Vectra Networks as a 2014 Emerging Vendor."
About Vectra Networks
Vectra Networks is the leader in real-time detection of in-progress cyber attacks. Vectra delivers continuous automated cyber attack detection and reporting that instantly identifies attacks while they are happening and describes what the attacker is doing. Vectra automatically prioritizes attacks that pose the greatest business risk, enabling organizations to quickly make decisions on where to focus their time and resources. Vectra Networks' investors include Accel Partners, Khosla Ventures, IA Ventures, AME Cloud Ventures, Intel Capital and Juniper Networks. The company's headquarters are in San Jose, Calif. More information can be found at www.vectranetworks.com.
Vectra Networks is a registered trademark of Vectra Networks in the United States and other countries. All other brands, products, or service names are or may be trademarks or service marks of their respective owners.
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