Prevailion, a platform designed to change how firms approach risk mitigation, has netted $10m in its Series A.
Cybersecurity-focused venture capital firm AllegisCyber led the round. Additional contributions came from previous backer DataTribe. The company closed its $2m seed round last year from DataTribe.
Funds have been earmarked for bolstering its intelligence team and hiring additional senior executives. The capital is also being used to grow the company’s internal and external legal policy, and operational expertise.
Prevailion helps organisations to improve their methods for risk mitigation and business decision-making via tailored intelligence. Its platform is used across insurance and risk, incident response, due diligence, mergers and acquisitions, and asset management.
Clients can access improved visibility into their network, including third-party partners and potential new partners, acquisitions, or investments.
AllegisCyber founder and managing director Bob Ackerman said, “Prevailion’s unique technology materially changes the dynamic between defenders and attackers where time-to-action is essential to effective cyber defense. On average, cyber compromises are discovered 270 days after an initial breach, giving attackers a nine-month head-start on the defenders.
“Prevailion’s platform identifies breaches at the time of compromise, or even as an adversarial campaign is being prepared, with deep intelligence and zero false positives. Their technology is truly a breakthrough in cyber defense.”
The company is set to expand into new offices in Columbia, Maryland.
Earlier in the year, AllegisCyber closed its second cyber innovation partners fund on $199m. The firm has made several investments into the cybersecurity space this year, having recently led the $44m Series E round of vArmour. The company offers cloud security automation tools to identify, secure and control workloads.
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