Venture Capital News: CounterTack Pulls In $20M Series D Round
WALTHAM, MA, CounterTack today announced that it has raised $20 million in growth funding.
CounterTack, the exclusive provider of the industry's one true behavior and memory-based Endpoint Threat Platform (ETP) for the enterprise, today announced that it has raised $20 million in growth funding. The Series D round is led by new CounterTack investor Singtel Innov8 (venture capital arm of The Singtel Group), along with SAP National Security Services (SAP NS2), also a new investor in CounterTack, and follow-on investment from existing CounterTack investors.
The funding will be leveraged to fuel CounterTack's explosive growth and global expansion in the burgeoning cybersecurity market, where CounterTack is fast-becoming the only enterprise-class endpoint security platform that cyber teams can build on, to lever dynamic capabilities beyond the endpoint. Gartner estimates that the cybersecurity market is growing at an annual average of 8% in overall revenue.
CounterTack's unique approach to endpoint security has helped the company penetrate enterprise, Federal and APAC markets competitively with its Endpoint Threat Platform, a market-leading endpoint detection and response (EDR) solution. The platform approach eliminates 'multi-agent syndrome' for teams to simplify security with its hyper-converged sensor to detect and kill advanced threats like WannaCry. Since its introduction to the market post Series A raise in 2011, CounterTack has seen tremendous growth across its product portfolio, helping accelerate its capability to protect global organizations from advanced cyberattacks.
"We are excited to partner with CounterTack to support the delivery of truly innovative endpoint security technology on a global scale," said Jeff Karras, managing director, Singtel Innov8. "CounterTack takes a differentiated approach to protecting large organizations from attacks like ransomware and other advanced threats. Their track record in delivering innovative endpoint security to customers worldwide is spectacular. We are happy to be part of their continued growth."
"We're thrilled to team up with CounterTack and to be adding them to our syndicate of portfolio companies in the cybersecurity space," said Andrew Drake, vice president, strategic investments, at SAP NS2. "We are also enthusiastic about the market opportunity to integrate our best of breed technologies strategically, to deliver unprecedented scale across multiple customer use cases."
CounterTack's Endpoint Threat Platform delivers full-spectrum endpoint security, including advanced Endpoint Detection and Response (EDR) capabilities, leveraging behavior analysis and machine-learning to neutralize threats at-scale to maintain business resiliency against targeted attacks. For CISOs, the platform reduces the need for multiple security agents. And with over 250 customers protected across massive endpoint environments worldwide, CounterTack reduces the time from detection to remediation to secure enterprise systems.
About Singtel Innov8
Singtel Innov8, the venture capital arm of the Singtel Group, invests in and partners with innovative tech start-ups worldwide. It has a fund size of US$250 million and its own set of decision making, approval and funding processes. Beyond funding, Singtel Innov8 is a gateway for start-ups to tap on the resources and expertise of the Singtel Group, while enabling the Group to gain access to emerging technologies. Singtel Innov8 focuses its investments on technologies and solutions that can lead to quantum changes in network capabilities, next generation devices, digital services and enablers to enhance customer experience. Headquartered in Singapore, Singtel Innov8 also has offices in San Francisco and Tel Aviv.
Learn more at: www.innov8.singtel.com
About SAP NS2
At SAP NS2, we are driven to defend. We provide innovative computing, analytics, and cloud solutions that accelerate the pace of data fusion, analysis and action. Our solutions help leaders better manage the business of the mission from the back office to the battlefield, delivering a critical offset over the adversary. As an independent subsidiary of SAP, we're backed by game changing technology, staffed by 100% U.S. citizens on U.S. soil, dedicated to meeting the unique mission requirements of U.S. national security organizations. Learn more at www.sapns2.com.
Learn more at www.SAPNS2.com
CounterTack delivers the one true Endpoint Threat Platform, (ETP) to enterprise customers globally. CounterTack provides a unique combination of threat context, organizational resiliency and broad visibility, to mitigate endpoint risk and reduce the impact of advanced attacks. Combining a robust suite of endpoint detection and analysis capabilities by leveraging a single endpoint sensor and an open, scalable multi-tenant infrastructure, CounterTack helps IR and security teams neutralize and prevent advanced threats from damaging the business. CounterTack delivers its next-generation technology to over 250 customers globally.
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