Fortscale Security Grabs $7M
SAN FRANCISCO, CA, Fortscale Security, the innovator in machine learning-based User & Entity Behavior Analytics (UEBA) for security, announced it has secured $7 million dollars.
Fortscale's latest round of funding was led by Evolution Equity Partners and Valor Capital Group. The round also included investments from previous investors including Intel Capital, Blumberg Capital, Swarth, CME ventures and UST Global. This latest investment round brings Fortscale's funding total to $23 million and coincides with the release of the company's newest offering: Presidio, the industry's first embedded UEBA engine.
The funding will be used in multiple capacities as Fortscale enters its next phase of growth. The company plans to focus on new global business expansion, specifically targeting the European and Latin American markets, while also expanding its research and development operations and team located in Israel. Additionally, the funding will contribute to the ongoing development of Fortscale's evolving product line.
'2017 is shaping up to be a momentous year for Fortscale with the release of Presidio and the continued expansion of our global business operations,' said Idan Tendler, co-founder and CEO, Fortscale. 'We are proud and grateful to have the support of the investment community who understand the importance of our ongoing mission to stop insider threats faster and more effectively than ever before.'
Fortscale's award-winning UEBA platform, deployed in Fortune 1000 companies, leverages advanced User & Entity Behavior Analytics to dramatically uncover insider threats and reduce data breaches. Pioneering pre-emptive, big data analytics and advanced machine learning, Fortscale is able to automatically discover compromised credentials of employees, rogue users and identify real-time risk levels to support adaptive responses that optimize the value of the existing security infrastructure. Fortscale's latest offering, Presidio, extends the platform to be natively embedded into existing security solutions such as SIEM, EDR, EPP, DLP, CASB, and IAM, offering a new level of accessibility for organizations looking to implement a UEBA solution without the need to deploy a stand-alone product.
'Fortscale is a globally recognized innovator in UEBA that is leading the ongoing fight against insider threats,' said Richard Seewald, founder and general partner, Evolution Equity Partners. 'We look forward to working with Fortscale on their international expansion and helping them establish partnerships that will fuel their continuing growth.'
'Organizations are increasingly turning to Fortscale's UEBA solution to protect their assets, customers and reputations,' said Scott Sobel, co-founder and managing partner, Valor Capital Group. 'We're honored to join Fortscale on their journey and are eager to provide value as the company enters new markets and evolves its new Presidio ecosystem.'
Fortscale's successful funding round coupled with the launch of Presidio builds upon the momentum of a strong 2016. The company received numerous awards and recognition including a 2016 Gartner 'Cool Vendor' in Identity and Access Management and Fraud. Fortscale was also named to Calcalist's list of 'top 50 most promising Israeli startups' for 2016 and NetworkWorld's list of intriguing new products.
For more information, visit www.fortscale.com.
Fortscale gives you real-time visibility into the actions of users and entities in your environment and uncovers insider threats by identifying unusual behaviors that pose a risk to your business. Combining predictive, big data analytics and advanced machine learning, the Fortscale User and Entity Behavioral Analytics (UEBA) engine can be deployed as a stand-alone solution optimized for security operations centers (SOCs) or natively embedded in security infrastructure solutions - SIEM, EDR, EPP, CASB, DLP, IAM - to improve risk analysis and decision-making. Upon deployment, Fortscale starts processing user and entity data from throughout your security infrastructure, autonomously modeling behaviors, and quickly and accurately identifying anomalous, risky activity to uncover insider threats. Backed by Intel Capital, Blumberg Capital, Swarth Group, CME Ventures, Evolution Equity and Valor Capital, Fortscale's insider threat solution lowers analyst stress-levels and improves your security posture overall. For more information, visit www.fortscale.com.
About Evolution Equity Partners
Evolution Equity Partners, based in New York City and Zurich, Switzerland, invests in growth stage technology companies in the United States, Europe and Israel helping exceptional entrepreneurs develop market leading companies. The firm has a focus on Cyber-Security and Enterprise Software and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Current and past portfolio companies include: AVG Technologies (AVG: NYSE), Cognitive Security (CSCO: NASDAQ), OpenDNS (CSCO: NASDAQ), Carbon Black, Onapsis, Security Scorecard, and DFLabs among others. For more information, please visit us at evolutionequity.com or connect with us on Twitter @evolutionequity.
About Valor Capital Group
Valor Capital Group, LLC is an investment firm focused on Brazil and US-Brazil cross-border opportunities with a presence in New York, San Francisco and São Paulo. The firm operates across two investment strategies: Growth Equity and Venture Capital. Their investments include SontraCargo, Udacity and Descomplica. www.valorcapitalgroup.com.
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