7 Security Firms that Raised Venture Funding in January 2017

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7 Security Firms that Raised Venture Funding in January 2017

The new year has started off with a flurry of fund raising activity in the security space as startups seek to fuel growth with new capital.

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Bitglass Secures $45M Series C

Among the first security firms to announce funding in 2017 was Cloud Access Security Broker (CASB) vendor Bitglass. On Jan. 6, Bitglass announced a $45M Series C round of funding, bringing total funding to date up to $80 million. "Cloud and mobile are driving business data beyond the firewall, introducing new security and compliance risks," Nat Kausik, CEO, Bitglass said in a statement. " Bitglass "delivers real-time inline data protection in the cloud, at access and on any device," Kausik's statement said.

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Infocyte Raises $3.4M Series A

Infocyte announced that it raised a $3.4 million Series A round of funding on Jan. 10. The company's core product Infocyte HUNT is a platform to help security teams discover cyber-threats inside enterprises.

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Phantom Raises $13.5M Series B

Also on Jan. 10, Phantom announced its $13.5 million Series B round of funding, bringing total funding to date for the company up to $23 million. The round was led by Kleiner Perkins and included the participation of TechOperators Venture Capital, Blackstone, Foundation Capital, In-Q-Tel, Rein Capital, Zach Nelson, and John W. Thompson. Phantom's technology provides automation and orchestration for security tools used by enterprises.

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OPAQ Networks Raises $21M Series A

On Jan. 17, OPAQ Networks emerged from its stealth mode and announced that it had raised $21 million in a Series A round of funding. The Series A funding was led by Columbia Capital, with the participation of Harmony Partners and Zero-G Inc. OPAQ Network provides a cloud security-as-a-service to its customers.

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ProtectWise Raises $25M Series B Funding

Cloud-delivered security platform vendor ProtectWise announced on Jan. 18, that it had raised $25 million in a Series B round of funding. The company's core product platform is called ProtectWise Grid and aims to provide insight into potential threats.

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Secret Double Octopus Raises $6M Series A

Israeli security vendor Secret Double Octopus, announced on Jan. 24 that it had raised a $6 million Series A round of funding. The core technology behind the company is a keyless multi-layer approach to securing data and identity across multiple environments.

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SentinelOne Lands $70M Series C

On Jan. 25, next generation malware protection vendor SentinelOne announced that it had raised a $70 million Series C round of funding. Total funding to date for the company now stands at $110 million. SentinelOne's technology fits into the Endpoint Detection and Response (EDR) market, providing organizations with advanced next generation threat prevention capabilities.

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Kroll Report Finds Fraud, Cyber-Attacks Increased in 2016

DEK: Organizations had a difficult time defending against fraud in 2016, according the latest global fraud and risk report from IT security company Kroll. The report, which was released Jan. 17, provides insight into the state of fraud and risk incidents in 2016 based on research conducted by Forrester Consulting and responses from 545 senior executives around the world. Among the findings in the report: 82 percent of respondents experienced a fraud incident in 2016, up from 75 percent in 2015 and 61 percent in 2012. Looking at instances of cyber-fraud specifically, one-third of respondents admitted their organization had suffered some form of virus attack in 2016, yet surprisingly, only 13 percent noted they had suffered a ransomware attack. There are many different root causes for cyber-attacks, with software vulnerabilities the top reason cited by survey respondents. Looking a bit deeper,...
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