London-based Venari Security has raised £4.2m from a Series A funding round that included a number of high-profile cybersecurity backers.
Backers of the company in the Series A include the former UK Deputy National Security for Intelligence, Security and Resilience Paddy McGuinness, former president and CEO of Palo Alto Networks Lane Bess and former CEO of Sungard Cris Conde.
Following the recent funding, Venari Security now has a post-money valuation of £14.2m.
Founded earlier this year, Venari is a cybersecurity software-as-a-service provider that has developed an encrypted traffic analysis platform that the firm claims ‘fundamentally changes the way encrypted traffic is analysed’.
By measuring encrypted traffic, Venari is able to both identify threat levels as well as deliver internal and regulatory compliance while maintaining data privacy. The company uses machine learning, AI and behavioural analytics to accurately measure the abnormalities between normal and anomalous behaviour.
According to Venari, it will use the new capital to grow its research and development, data science and cyber teams as well as complete its go-to-market plan.
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Copyright © 2018 RegTech Analyst