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Damballa Raises $13 Million to Support Expansion

22
Apr
2014

Damballa, a provider of threat protection and containment solutions, has raised $13 million to capitalize on growing demand for its automated breach defense platform.

The company will use the new injection of cash, all comingfrom existing investors,to support global sales, marketing and channel efforts.

The Atlanta, Georgia-based company’s “Damballa Failsafe” offering is an automatic breach defense system that identifies evidence of malicious network traffic in real time and helps discover and validate successful infections, giving incident responders the ability to pinpoint compromised devices and quickly mitigate risk.

Failsafe delivers actionable information about known and unknown threats regardless of the infection’s source, entry vector or OS of the device, the company explained.

“Today’s threats evolve constantly and prevention tools can’t stop infections they haven’t seen before,” said David Welsh, Partner at Adams Street Partners. “The market is ripe for Damballa’s very different approach to detecting and stopping infections with certainty. The market dynamics, combined with the impressive steps the company has taken in the past year – driving revenue growth and building out strong channel and strategic alliances for future success – make us very excited about the opportunity for Damballa.”

“CSOs and their teams are overwhelmed with alerts,” said David Scholtz, CEO of Damballa. “Instead of wasting time chasing false positives or doing deep investigative work to confirm true infections, they need a security system that can automate the heavy-lifting. Damballa provides automatic and indisputable evidence of successful infections so responders can immediately prevent damage. That message is resonating with a broad range of enterprise organizations around the world.”

The company has raised a total of $57.5 million in funding to date.

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Managing Editor, SecurityWeek.Previous Columns by Mike Lennon:Damballa Raises $13 Million to Support ExpansionFireHost Raises $25 Million to Fuel Growth of Secure Hosting BusinessKaspersky Lab Names New North America Chief, Unveils Enterprise Security Strategy Heartbleed Flaw Used to Bypass Two-factor Authentication, Hijack User Sessions: MandiantConfirmed: Heartbleed Exposes Web Servers Private SSL Keys

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