Protego, a developer of a security solution built for serverless, has landed $2m in seed funding.
The round was led by Ron Gula of Gula Tech Adventures, Glilot Capital Partners, and the MetroSITE Group of security industry pioneers, including former RSA CTO, Tim Belcher.
With new capital on board it intends to continue to work with customers and partners to broaden its offering and bring the product to market.
“Protego is the first and only platform of its kind that delivers full life-cycle security to serverless applications from deployment to run-time – that can be up and running in just 20 minutes,” according to Tsion Gonen, CEO and co-founder of Protego.
The Baltimore-based company works by continuously scanning a serverless infrastructure, including functions, logs, and databases, to increase the application’s security posture and minimise the attack surface.
Using machine-based analysis and deep learning algorithms, the platform builds a model of normal function behavior to detect threats, anomalies, and malicious attacks as they initiate and propagate. It also identifies and prevents attacks in real time and provides the “minimum effective dose” of protection in the right place, maximising security while minimising costs.
“As serverless computing upends how information technology is delivered, enterprises will scramble to figure out how to implement proper security,” said Arik Kleinstein, Co-founder & managing partner at Glilot Capital Partners. “We are excited to partner with the team at Protego to help them bring a powerful security solution to the serverless space.”
A recent research report from RegTech Analyst found that Cybersecurity investments declined in Q1 2018 as later-stage deals dried up. Total investment in Q1 2018 reached just $725.8m, a fall of 47.7% from the previous quarter. However, compared to the same quarter in 2017, total funding increased by 27%. The drop in investment in Q1 2018 can be attributed to a lack of later-stage deals valued above $100m according to the report.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
