Attivo Networks Announces $15M Series B Financing Round
Funding To Fuel Deception-based Threat Detection Technology Leadership and Additional Support of Customer Demand and Global Expansion
FREMONT, Calif., May 10, 2017-– Attivo Networks®, the award-winning leader in deception for cybersecurity defense, today announced it has closed $15M in Series B round funding, made up by major investors including Omidyar Technology Ventures, Bain Capital Ventures, Trident Capital Cybersecurity and Macnica Ventures, a corporate venture arm of Macnica, Inc.. As part of the Series B investment, Chris Bishko of Omidyar Technology Ventures has joined the Attivo Networks board. The company has seen strong adoption of deception technology for early detection and accelerated response to inside the network threats that have bypassed prevention security. Proven to be an accurate and efficient solution for advanced threat detection in financial, healthcare, technology, retail, and energy sectors, the additional investment will support further functionality development of the Attivo Deception and Response Platform, and expanding its sales initiatives across the globe.
“Attivo Networks changes the game against attackers by enabling organizations to massively deploy a variety of “tripwires” — decoys, lures and other deceits – making it difficult for attackers to move throughout their network without being detected,” says Chris Bishko, partner at Omidyar Technology Ventures and member of the Attivo Networks board. “Attivo’s deception technologies offer an effective and low friction solution for advanced threat detection that is well on its way to becoming part of the mainstream security infrastructure. ”
“Since our initial investment in Attivo Networks, we have seen the company achieve clear leadership in the deception space based on technology innovation and customer traction with some of the world’s best known brands,” states Enrique Salem, partner at Bain Capital Ventures and Attivo Networks board member. “The company’s delivery of a comprehensive platform, and an extensive list of technology partnerships to simplify incident response, has unquestionably provided organizations with a highly efficient choice in combatting the most advanced threats.”
“Attivo Networks is the clear leader in the emerging space of deception solutions to improve real-time breach detection and incident response” states J. Alberto Yépez, Managing Director at Trident Capital Cybersecurity. “We are very impressed with Attivo’s customer traction, experienced team and more importantly, its broad technology platform that enables ease of integration and co-existence with existing cybersecurity solutions deployed in customers premises.”
“The additional funding we have raised will be used to expand our lead in technology innovation and fuel our global expansion,” states Tushar Kothari, CEO of Attivo Networks. “Deception is being rapidly adopted worldwide, because it closes the detection gap in a company’s security posture. Attackers have proven time-and-again that they can bypass perimeter defenses and easily evade traditional detection tools. With its new approach to security, Attivo Networks deception not only accurately detects an attacker’s presence, but also rewrites the rules on attackers, so that they have to be right 100% of the time.”
There have been a number of milestones for Attivo Networks over the past year. The company has:
•Seen significant customer growth in financial, healthcare, technology, government, energy, and retail markets
•Expanded the Deception Platform to include additional tools for visibility, incident handling automations, and 3rd party integrations to automate incident response
•Launched dynamic behavioral deception that uses environmental self-learning to deploy and maintain deception environment authenticity
•Achieved Common Criteria EAL 2+ Certification, required for the sale to US government organizations
•Released support for ICS-SCADA, IoT, POS, and SWIFT Financial messaging specialty environments
•Introduced the ThreatOps solution for threat response playbook creation, correlation of disparate attack information from multiple sources and automated response actions
•Added over a dozen 3rd party vendor integrations, creating automated blocking, quarantine, and threat hunting
•Released BOTsink® 4.0 with significantly enhanced deception and features for scalability, ease of operations, advanced ransomware detection, and enhanced deceptions techniques
•Released the ThreatPath™ solution which provides visibility into attack paths and misconfigurations and exposed credentials that create attacker entry points and paths for lateral movement
•Received multiple innovation awards from Cyber Defense Magazine, Info Security Products Guide, ASTORS, One Planet, CRN Emerging Technology Vendor, and Distinguished Vendor Recognition for Intrusion Detection Technology in the 2017 TAG Cyber Security Report. Attivo has received coverage from industry analyst firms Gartner, Inc.; 451 Research; and Frost and Sullivan; as well as publications, organizations, partners and Homeland Security
Analysts see the deception technology market growing rapidly, and according to FBR Capital Markets data, the market will be worth $3B by 2019.
About Attivo Networks
Attivo Networks® is the leader in deception technology for real-time detection, analysis, and accelerated response to advanced, credential, insider, and ransomware cyber-attacks. The Attivo Deception and Response Platform accurately detects advanced in-network threats and provides scalable continuous threat management for user networks, data centers, cloud, IoT, ICS-SCADA, and POS environments. Attivo Camouflage dynamic deception techniques and decoys set high-interaction traps to efficiently lure attackers into revealing themselves. Advanced attack analysis and lateral movement tracking are auto-correlated for evidence-based alerts, forensic reporting, and automatic blocking and quarantine of attacks. For more information visit www.attivonetworks.com
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About Omidyar Technology Ventures
Omidyar Technology Ventures (OTV) is a Silicon Valley-based investment firm created and solely funded by eBay founder, technologist, and philanthropist Pierre Omidyar. OTV invest in early and growth stage technology companies. Guided by a team of experienced investment managers, the firm is a traditionally structured fund with a focus on enterprise software, financial technology, AI & big data and online marketplaces. For more information, please visit www.omidyarventures.com or follow us at @OmidyarVentures.
About Trident Capital Cybersecurity
Trident Capital Cybersecurity is a $300 million cybersecurity focused fund investing primarily in early stage and select growth equity companies. The firm is well-known as the venture capital firm with the best connections in cybersecurity. Its 47-person Cybersecurity Industry Advisory Council, including industry CEOs, customers and former top-level government leaders is commended for its insights, connections and go-to-market support for TCC’s portfolio companies. Managing Directors Alberto Yépez, Sean Cunningham and Don Dixon jointly lead the investment team and together have made 30 cybersecurity investments during a nearly 20 year period of investing at Trident and Intel Capital. For more information, visit www.tridentcybersecurity.com.
About Bain Capital Ventures
Bain Capital Ventures (BCV) invests from seed-stage through growth equity in companies focused on enterprise technology, with a deep focus on infrastructure software and security analytics. With offices in the Bay Area, Boston, and New York City, BCV is the venture capital affiliate of Bain Capital, a global alternative assets platform with approximately $80 billion in assets under management. For more information, please visit www.baincapitalventures.com or follow us at @BainCapVC.
About Macnica Ventures
Since its establishment in 1972, Macnica, Inc. has acted as a technology-based distributor as well as a solution provider of electronic components and IT network equipment and software. Along with a broad offering of electronic and network products, we provide value-added solutions through our expertise in leading-edge technologies. Furthermore, our service and support are based on the latest market trends and customer needs information as well as application support and design services. Macnica, Inc. has headquarters in Yokohama, Japan with operations in China, Hong Kong, Taiwan, Korea, Singapore, Malaysia, Thailand, USA, Brazil, and Germany. San Jose, California-based Macnica Ventures will make strategic, early to late stage investments in areas ranging from ICT markets to emerging technologies. Investments will be managed through its captive fund called Macnica Investment Partners.
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