Virsec Closes $24 Million In Series B Funding
San Jose, Calif. – March 20, 2018 – Virsec, a cybersecurity company delivering a radically new approach to protect against advanced attacks, today announced the closing of a $24 million Series B funding round to accelerate product innovation and global expansion. The funding round has been led by BlueIO with participating investors including Artiman Ventures, Amity Ventures, Raj Singh, and Boston Seed Capital.
In the last year, there has been a rapid increase in advanced, targeted cyberattacks launched to disrupt businesses, hijack control over internal systems, steal sensitive data, and damage critical infrastructure. High-profile attacks such as WannaCry, Not Petya, Industroyer, Triton and others have used memory corruption and other advanced hacking techniques that bypass conventional network security tools. These exploits have been considered “indefensible” by many security experts.
Virsec has pioneered technology to protect critical applications from the inside, protecting processes in memory and pinpointing attacks in real-time, within any application. Through its patented Trusted Execution™ technology, Virsec maps acceptable application execution, and instantly detects deviations caused by attacks. This deterministic process takes the guesswork out of cybersecurity, detecting and blocking application attacks within milliseconds, with precise forensics at every step. Virsec has a strong portfolio of patents with more than 20 applications filed and 12 already granted.
“The battleground has shifted in cybersecurity and the industry is not keeping up,” said Atiq Raza, CEO of Virsec. “With our deep understanding of process memory, control flow, and application context, we have developed a revolutionary solution that stops attacks in their tracks, where businesses are most vulnerable – within applications and processes.”
The solution has been successfully deployed and gone through extensive validation with early-adopter customers in critical infrastructure, defense, financial services, and healthcare and has been proven to stop the widest range of fileless attacks, protecting memory and critical processes for any type of compiled or interpreted code.
“We’ve been stuck in an outdated security mindset for too long – protect the perimeter and guess what threats are coming next. Even with artificial intelligence, this is not nearly good enough,” said Dave Furneaux, Chairman and CEO of BlueIO and lead investor in the funding round. “Virsec turns this model on its head and eliminates uncertainty. By protecting applications from the inside, in real-time, in any environment, they have changed the game for security.”
The Virsec platform will be introduced at the RSA Conference, April 16-20 in San Francisco (South Hall, Booth 1509).
Based in San Jose, California, Virsec was founded on the belief that a new model is required to counter today’s advanced threats. The company is led by industry veterans who have driven one of the world’s top processor teams, and created innovative technology in network security, embedded systems and real-time memory systems. The team has broad leadership experience at companies including AMD, Cisco, Palo Alto Networks, Juniper, Dell, NextGen, BMC Software, ForcePoint, as well a long list of high-growth start-ups. More information and demos are available at www.virsec.com.