Binalyze, an enterprise forensics platform that arms clients against cyber threats, has bagged $10m in its seed funding round.
European venture capital firm OpenOcean led the round. Commitments to the round also came from Earlybird Digital East, which led Binalyze’s pre-seed round in 2021.
Funds from the round will help Binalyze expand in the US, Europe and other key markets. Capital will be used to enhance its forensic solutions as well as extend its capabilities to enhance coverage in cloud and container environments.
Over the past year, Binalyze has increased its recurring revenue by 20-times.
Binalyze offers real-time forensic visibilities to the core security stack, transforming how forensics can minimise breaches. The platform remotely, securely and automatically collects over 150 digital forensic artefacts in under ten minutes. This information then supports incident response investigations.
Its clients include international brands and Fortune 500 companies including global banks, auditing companies, airlines and telcos.
Binalyze CEO and founder Emre Tinaztepe said, “100% breach prevention is no longer a realistic expectation. Forensic visibility is an integral part of an investigation. Enterprises need to be prepared with the right tools to mount an effective and quick response once a suspected breach is detected.
“Speed is of the essence. Cybercriminals work quickly once they gain access to a corporate network. Binalyze is designed to be fast, capturing the most comprehensive forensic snapshot and creating a detailed digital forensics report in less than 10 minutes. It dramatically speeds up all stages of incident response, from identification to remediation.”
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