Google Ventures led $4M Series A funding round for cybersecurity startup ThreatStream
Google Ventures was the lead investor in cybersecurity startup ThreatStream's Series A financing round which raised $4 million, TechCrunch reported. Paladin Capital Group, Cloudera CEO Tom Reilly and ArcSight Founder Hugh Nijemanze also supported the SaaS-based security firm in its most recent fundraising.
ThreatStream said proceeds of the round will be utilized to provide its enterprise and government clients with an added layer of security. The startup was established last year and was able to secure $300,000 in seed financing, the report said.
Various security startups have emerged out of stealth mode to launch in the past few months. The rising number of these kinds of firms also serves to highlight the expanding market for solutions geared towards providing enterprises and governments with real-time protection of their networks and data, the report said.
ThreatStream Founder and CEO Greg Martin told TechCrunch, "ThreatStream's Optic platform is the first ever crowd-sourced cyber security intelligence solution that aggregates millions of threat indicators from around the Internet and integrates them directly to an organization's existing security infrastructure."
He added that its Optic platform helps organizations cut through most of the "noise" by capitalizing on data and analytics. As a result, security analysts are able to "focus on the more sophisticated, 20% of attacks, the targeted ones." Through the use of data science, ThreatStream can pinpoint possible threats and targets in real time, the report said.
For Kim Faris, a General Partner of Google Ventures, ThreatStream provides a solution to serious break in the threat intelligence. Karim told TechCrunch, "Traditional models of securing the gate are becoming less effective, and we're seeing meaningful new investments in creating more intelligent security layers. In today's environment, it's imperative to continuously augment existing perimeter defenses like firewalls with threat intelligence to get a broader view of the attacks forming."