DefenseStorm reels in $15m from Series C

DefenseStorm, a provider of cloud-based cybersecurity, compliance and fraud technology, has raised $15m from a Series C financing round.

The round was led by a $5m investment from venture fund JAM FINTOP, alongside $10m in funds coming from existing unnamed investors. Following this raise, DefenseStorm has raised a total of $67m since its inception.

DefenseStorm provides cybersecurity, compliance and fraud solutions built specifically for banking to achieve and maintain cyber readiness. The company claims its GRID solution is the only co-managed, cloud-based and compliance-automated platform of its kind, operating as a tech platform and a service supported by experts in FI security and compliance.

The solution watches everything on a bank or credit union’s network and matches it to defined policies for real-time, complete and proactive cyber exposure readiness, keeping security and fraud teams smart and executives accountable.

DefenseStorm CEO Steve Soukup said, “DefenseStorm and JAM FINTOP are fully aligned in our missions to make the best technology available to community banks. Our comprehensive approach to cyber risk makes it possible for all banks to take the right steps to protect their assets, customers, and reputation.

“Our integrated technology platform is purposefully Built for Banking, meaning everything we do is designed to meet the demanding requirements and regulations placed on banks. Additionally, our team of cyber experts provides the much-needed resources that many banks struggle to hire and retain. It’s a true partnership, with our co-managed, dynamic system ensuring community banks can effectively respond to the constantly evolving world of cyber threats.”

Whistic, a vendor security assessment firm, recently raised $35m in funding from a Series B round led by JMI Equity.

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