Following a rapid increase in advanced, targeted cyberattacks, Virsec has closed a $24m Series B round to develop a new approach to cybersecurity.
The funding round was led by BlueIO with Artiman Ventures, Amity Ventures, Raj Singh and Boston Seed Capital all participating.
High-profile attacks such as WannaCry, Not Petya, Industroyer, Triton and others highlighted the use of memory corruption and other advanced hacking techniques, which bypass conventional network security tools. In response, Virsec has pioneered technology to protect critical applications from the inside, protecting processes in memory and pinpointing attacks in real-time, within any application.
Through its patented Trusted Execution technology, the solution maps acceptable application execution, and instantly detects deviations caused by attacks. It claims the deterministic process takes the guesswork out of cybersecurity, detecting and blocking application attacks within milliseconds, with precise forensics at every step. The company’s strong portfolio of patents has more than 20 applications filed and 12 already granted.
“We’ve been stuck in an outdated security mindset for too long – protect the perimeter and guess what threats are coming next. Even with artificial intelligence, this is not nearly good enough,” said Dave Furneaux, chairman and CEO of BlueIO and lead investor in the funding round. “Virsec turns this model on its head and eliminates uncertainty. By protecting applications from the inside, in real-time, in any environment, they have changed the game for security.”
Virsec’s solution has been successfully deployed and gone through extensive validation with early-adopter customers in critical infrastructure, defense, financial services, and healthcare. The company is led by industry veterans who have broad leadership experience at companies including AMD, Cisco, Palo Alto Networks, Juniper, Dell, NextGen, BMC Software, ForcePoint, as well a long list of high-growth start-ups.
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