Cybersecurity startup CounterTack closes Series B round with additional $3M to raise $15M
Waltham, Massachusetts-based cybersecurity firm CounterTack bagged an additional $3 million to close its Series B round with $15 million, a statement about the funding said.
The investors in the round included the Venture Capital unit of Siemens or SFS VC, Goldman Sachs, Fairhaven Capital and a group of private investors. The financing comes in the wake of increased customer demand around the world. Proceeds from the round will be used to hasten its technology expansion and bring to market its Sentinel platform geared towards enterprise endpoint threat detection and response, the statement said.
SFS VC Chief Executive Officer Ralf Schnell said in the statement, "CounterTack is delivering an enormously valuable technology to enterprise and industrial customers in the important endpoint threat detection and response market. As the threat landscape continues to grow more dangerous, innovation from emerging technology leaders like CounterTack is changing the way organizations think and act about security in the enterprise. We're thrilled to be part of the dynamic growth CounterTack is experiencing."
Through CounterTack's Sentinel platform, security teams can detect threats and context in real-time. As a result, clients are able to quickly spot and evaluate "threats on individual and groups of workstations and server endpoints throughout a customer's organization, and correlate threats enterprise-wide." Moreover, teams are able to pinpoint the features and trends of the attack so that they can improve their defenses and deal with the most dangerous and damaging threats sent their way, the statement said.
CounterTack Chief Executive Officer Neal Creighton said in the statement, "As this market continues to grow, we're thrilled at our capability to attract strategic investors like Siemens, who is dedicated to identifying and financing young companies globally, during their start-up phase, providing capital for their expansion. Their portfolio is comprised of visionary technology leaders across many industries to help organizations worldwide solve major business challenges."