Attivo Networks, a leader in deception solutions for cybersecurity defense, announced it has raised $21 million in a series C funding round. This round was led by Trident Capital Cybersecurity, with participation from existing investors Bain Capital Ventures and Omidyar Technology Ventures.
This round of funding follows a $15 million series B round held in May, representing $36 million raised in the last five months and a total of $45.7 million overall.
This new funding will be used to support further development of the Attivo ThreatDefend – the deception and response platform created to address the evolving landscape of threats and attack surfaces and to add counterintelligence functionality. The company will also be deploying global sales initiatives.
“Attivo is the clear leader in the emerging space of deception solutions that improves real-time breach detection,” said Alberto Yépez, a managing director of Trident Capital Cybersecurity and a pioneer of the cybersecurity industry. “Deception puts attackers on the defensive, making them work harder and increasing their costs. High accuracy addresses the issue of too many alarms being reported by existing solutions, and incident response is improved with the capture of specific techniques and tools being used by the attacker. This is the primary reason why companies are working closely with the Attivo team to help detect and more effectively respond to sophisticated cyber attacks. Customers are pleased with Attivo’s ability to close detection gaps and easily integrate with their existing cybersecurity investment, increasing their overall efficacy.”
“Achieving 100 percent security is not realistic. Organizations must know immediately when their perimeter security controls fail and be able to respond quickly. Attivo Networks’ deception-based detection efficiently closes this detection deficit,” said Tushar Kothari, CEO of Attivo Networks. “It is not enough to understand how an attacker attacks, you must also know how to defend and respond. Attivo engineering has applied its deep expertise based on years of detecting and analyzing threats to deliver an accurate and scalable solution for detecting advanced threats within today’s evolving attack surface.”
“Attivo’s innovation is impressive and strengthens not only in-network detection but also serves to strengthen a company’s edge defense,” added Enrique Salem, managing director of Bain Capital Ventures. “Since our initial investment in Attivo in 2015, we continue to see the company chart new territory in deception-use cases and in the value it presents to customers. Today, we’re particularly excited about Attivo’s creation of deception technology for counterintelligence, opening new opportunities for the government to combat targeted attacks.”
“Traditional security detection technologies must parse through oceans of data in hope of identifying suspicious activity,” said Chris Bishko, partner at Omidyar Technology Ventures. “This exercise is akin to looking for a needle in a haystack. Attivo’s deception solutions address the shortcomings of this paradigm. Deception ‘tripwires’ are placed pervasively throughout the network, alerting on attacker engagement and reducing the risk of incursions remaining undetected for extended periods, as seen in essentially all recent high-profile breaches.”