Cybersecurity platform Attivo Networks nets $21m in Series C

Cybersecurity platform Attivo Networks has netted $21m in a Series C round led by Trident Capital Cybersecurity.

The funding injection also saw participation from current investors Bain Capital Ventures and Omidyar Technology Ventures.

California-based Attivo uses deception technology for real-time detection, analysis and response to cyber threats. The platform is able to detect in-network threats and provides threat management for user networks, data centres, cloud, IoT, ICS-SCADA, and POS environments.

The company’s Camouflage system sets up deception techniques and decoys to create traps which lure attackers into and then reveals them to the host. Attivo is used by businesses in the financial, retail, government, retail, energy and high-tech sectors.

Over the past year the company has seen its revenue grow by 300 per cent, with the company currently working with more than 350 companies.

With the new equity, Attivo hopes to further the development of its ThreatDefend Deception and Response Platform offerings to help keep ahead of the evolving landscape. The financing will also help the company to expand its international sales initiatives.

Trident Capital Cybersecurity managing director Alberto Yépez said, “Deception puts attackers on the defensive making them work harder and increasing their costs. High accuracy addresses the issue of too many alarms being reported by existing solutions and incident response is improved with the capture of specific techniques and tools being used by the attacker.”

As part of the transaction Trident Capital Cybersecurity managing director Alberto Yépez will join Attivo’s board of directors.

This new round of funding comes hot off the heels of the company’s $15m Series B round, which it closed in May. With the new equity line, total capital raised by Attivo has reached around $45.7m.

Other cybersecurity platforms currently in Trident’s portfolio include IoT protection platform Bayshore, defense and law enforcement threat protection service provider 4IQ and cyber risks and data breaches prevention platform ID Experts.

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