Bandura Systems has raised $3.5m to develop threat-detection technology for cybersecurity threats.
The financing came from Blu Ventures, Gula Tech Adventures, the Maryland Tech Development, Prosper Women Entrepreneurs, SixThirty, SixThirty Cyber and UMB Financial Corporation.
Bandura claims to have pioneered the threat intelligence gateway (TIG) in part with the US Department of Defense. TIGs are stand-alone threat prevention appliances that can process millions more threat indicators than traditional network security enforcement approaches.
They help protect corporate networks by more effectively blocking known threats and making threat intelligence actionable. They also complement and improve the performance of existing security solutions like firewalls and Security Information and Event Management (SIEM) software reducing the number of events that need detection and response, making employees more effective.
Bandura’s PoliWall claims to be the most comprehensive, scalable and granular TIG platform on the market. Organisations worldwide use TIGs for the automation and control needed to operationalize hundreds of million threat indicators blocking known threats before they even reach the network firewall.
“The cybersecurity market has been heavily focused on identifying ‘advanced’ threats, but that has put pressure on security teams to effectively and efficiently block the huge volume of known dangers,” said CEO Chris Fedde. “Threat Intelligence Gateways fill this role by addressing a key gap in existing security controls, which are not built to consume threat indicators on the millions of bad IPs and domains that exist. I’m excited to join Bandura, the company that pioneered TIGs, as enterprises of all sizes can begin using these Threat Intelligence Gateways.”
The funding will be used to support the growing demand for Bandura’s offerings. The company has also recently expanded its executive team, recently hiring prominent cybersecurity executive Chris Fedde as its new CEO and today also announcing Todd Weller as its chief strategy officer.
Prior to Bandura, Weller served as vice president of corporate development and marketing at Hexis Cyber Solutions, which was sold to a firewall vendor owned by Silicon Valley investors. He spent nearly two decades covering cybersecurity as a Wall Street analyst at some of the world’s most prominent financial services firms like Stifel, Nicolaus & Company, and Legg Mason.
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