Allure Security, a US startup focusing on data loss detection and response, has raked in $5.3m in seed funding.
The round was led by early-stage venture capital firm Glasswing Ventures. Glasswing managing partner Rick Grinnell, known for his investments in EqualLogic, Prelert, and Resilient Systems, has joined Allure Security’s Board of Directors as part of the round.
Greycroft, Zetta Venture Partners and Portage Partners also participated in the funding round, which comes six years after the company was founded in a Columbia University research lab.
With new funding onboard, Allure will look to further innovate its industry-first data loss detection and response (DDR) platform and to continue to add key personnel to its new Boston-area headquarters.
Mark Jaffe, CEO of Allure Security said: “Our platform brings to market a radically new approach to solving the enterprise’s greatest security challenge: data loss. For far too long, breaches have gone undetected because businesses had no way to track documents outside the enterprise network, and no way of knowing where those documents end up. This seed round enables us to continue to make enhancements to our platform and rapidly scale the company by adding strategic hires to support increased demand for the product.”
Allure Security was founded in a Columbia University research lab by a team led by Dr. Salvatore Stolfo, a renowned AI and data security scientist. Its flagship product is the first Data Loss Detection and Response (DDR) technology that tracks and protects documents, without agents, inside and outside the enterprise walls.
It was awarded multiple contracts totalling more than $10m from the Defense Advanced Research Projects Agency (DARPA) and other government agencies to develop innovative technology to address insider threats, nation-state attacks, and widespread data loss. Today, Allure holds more than eight US patents on its beaconing, deception, and behaviour analytics technology.
Greycroft’s FinTech portfolio includes payments company Fortumo, micro investing app Acorns, payment processing business Azimo, digital incentives and rewards company Buzz points, and ecommerce fraud prevention business Trustev, among others.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
