Netshield, a provider of network access control (NAC) solutions, has launched its Series A funding round in a bid to target the US and Asia.
The company, which offers security solutions to enhance cyber-risk mitigation strategies for SMBs, financial institutions, and other organisations, said it is opening the funding to accelerate growth through the development of a virtual software product.
“We’ve seen significant adoption of Netshield appliances in Europe in anticipation of the EU’s General Data Protection Regulation (GDPR),” said Ed Wall, president and CEO at Netshield. “We are eager to bring that success to the U.S. and Asia as well. The worldwide NAC industry is estimated to grow to $5bn in the next few years, and Netshield technologies are designed to protect almost any network in that expanding market.”
Founded in 2013, Netshield claims to be the world’s first breach prevention company offering network access control (NAC) appliances for advanced mobile and Internet of Things (IoT) security.
Headquartered in New Hampshire, its flagship hardware and software products provide real-time defense against the latest cyber-attack methods including zero-hours, phishing attacks, crypto and ransomware.
Netshield recently partnered with ZON Digital Insurance to include cyber insurance coverage bundled with its suite of cyber security solutions for small and medium enterprises. The partnership provides Netshield’s U.S. customers with up to $250,000 of cyber insurance coverage under the policy.
“New network breaches and attacks make the news every day,” said Chris Gauthier, vice-president of engineering and development at NETSHIELD. “But we are up for the challenge and look forward to proving what our NAC solutions can do for network security. Our appliances today and the virtualization we are bringing to bear represent the next stage of network security’s evolution.”
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