From: RegTech Analyst
Hack attacks are on the rise. While big businesses have the muscles to defend themselves, smaller firms struggle to keep up with the threat. That’s where Huntress’ new round comes in.
The cybersecurity firm has raised a $18m Series A investment round led by ForgePoint Capital, the venture capital firm that closed its second fund at $450m earlier this week.
Huntress will use the money to accelerate the development of new products and to better protect smaller firms, which a recent Verizon report revealed were the target of 43% of the attacks.
“Many of these cyberattacks have grown in sophistication and SMBs are demanding advanced capabilities from their IT and security providers to defend themselves,” said Ernie Bio, vice president at ForgePoint Capital. “To meet this growing demand, the Huntress team built an accessible [managed detection and response] as a service solution. We at ForgePoint are impressed by the Huntress team’s domain expertise, relentless drive, and passion to protect all customers from today’s advanced cyberthreats.”
Former NSA cyber operators Kyle Hanslovan, Chris Bisnett and John Ferrell, launched Huntress in 2015. “While working at NSA and cooperating with FBI, we saw first-hand how attackers establish persistence in systems, either waiting for the opportune moment to attack or selling access as part of a full-fledged business model,” said Hanslovan, CEO of Huntress.
“We wanted to make threat detection available to small businesses, who are under attack just as much as large enterprises. We call it cybersecurity for the 99%. We believe that the best way to effectively reach these businesses is by enabling and empowering the channel.”
Huntress protects nearly half a million endpoints today. Its offerings are directed at the growing security needs of MSPs and VARs by focusing on cloud-delivered technology through simple agent deployment without requiring additional security investment.
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