Bandura, which helps combat cyber threats in enterprise and government networks, has raised $4m in Series A funding.
The financing was led by Grotech Ventures, Gula Tech Adventures, Maryland Venture Fund, and Cultivation Capital. It intends to use the new capital to accelerate growth, marketing and sales efforts.
Led by Chris Fedde, CEO, Bandura provides Threat Intelligence Gateway (TIG), which filters network traffic against large volumes of threat intelligence indicators, protecting networks from the massive volume of known threats.
While there is a significant volume of actionable threat intelligence that can be used to detect and block the threats, firewalls can manage only a very limited number of threat indicators. This results in security coverage gaps, alert fatigue, staff overload, inefficient use of expensive firewall resources, and suboptimal return on existing security investments.
“Firewalls are getting crushed by the sheer volume of threats that hit organizations industry-wide every day,” said Fedde. “And, while external threat intelligence is available, most companies lack the staff and resources to effectively and efficiently operationalise it.
“The Bandura TIG complements the firewall, enabling companies of all sizes to use threat intelligence without limits in an easy and automated way. We are grateful for the support of our investors and believe it is a testament to our work redefining the industry’s use of threat intelligence from reactive detection and response to proactive prevention.”
Organisations worldwide use TIGs for the automation and control needed to operationalize millions of threat indicators blocking known threats before they even reach the network firewall. Underlying Bandura’s robust technology are more than 50 issued and pending patents.
“We partner with innovative cybersecurity technology companies who are bringing fresh ideas and unconventional approaches to tackle the large and growing cybersecurity challenge,” added Steve Fredrick, general partner at Grotech Ventures. “Bandura offers such innovation by empowering organizations with the most comprehensive and advanced IP threat protection available.”
Earlier this year, Grotech co-led a $8.2m Series A funding round for Threat X, a provider of firewall solutions for real-time threat detection and neutralisation.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
