From: RegTech Analyst
Cybersecurity platform Dtex Systems has secured $17.5m in a funding round which was led by Northgate Capital.
Additional commitments to the round came from Norwest Venture Partners and Four Rivers Group.
With the fresh funds, the cybersecurity company will extend its presence within the banking, financial services, critical infrastructure, government and defence industries. It will also move into the pharmaceuticals, life sciences and manufacturing spaces.
The Dtex platform gives businesses insider threat security, which identifies dangerous activity in real-time across million devices to predict and uncover risky behaviour.
Its platform leverages real-time technology, introspection and predictive modelling to help businesses recognise threats based on contextual behaviour and patterns, while keeping compliance with GDPR.
Over the past year, the company doubled its revenue.
Dtex president and CEO Bahman Mahbod said, “The addressable market for Dtex sits squarely in the enterprise insider threat cybersecurity sector, where the need to eliminate point solutions has already moved beyond the early adopters.
“Insider threat security needed a total revamp – one with a modern approach that offers comprehensive and organization-wide visibility. Dtex is providing customers with a simple and endlessly scalable platform to instrument the enterprise in real-time, with sophisticated analytics that are proven to find the needles in the haystack.”
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