Alpharetta, GA (Georgia) based Cybersecurity Company, DefenseStorm has raised US$ 12 million series B funding and US$ 7 million financing on 24 November 2020.
The round was led by Fintech Georgian and included participation from TTV Capital. The US$ 7 million growth capital financing was provided by CIBC Innovation Banking. The network security company intends to use the funding for expanding their technological capabilities. They will focus on user facing and technical product changes and establishing the efficiency and scalability of their platform. They will continue hiring teams required for executing these plans for the coming year and later. This round brings the total funding of the company to US$ 47 million.
The head of security and privacy at Georgian, Alex Manea said, “DefenseStorm has taken a growing approach for building their artificial intelligence capabilities. The market demands effective compilers and cyber security solutions and DefenseStorm is capable of answering all these fronts with its next generation platform, exceptional execution team and efficient service”
The network security company provides cyber compilers and cyber security solutions particularly for the banking sector for achieving and maintaining cyber soundness and safety. They are a corporate member of independent community bankers of America and cloud based cyber security provided preferred by NAFCU.
Every credit union and bank has unique and high value organizations that get around 20 million potential cyber events every day. DefenseStorm is the only enterprise that combines the power of cyber compiling and cybersecurity to the core managed systems for continuous in delivering real-time cyber safety that is needed by the financial institutions.
Mark Johnson, a general partner at TTV Capital said, “We see DefenseStorm as a potential enterprise that allows smaller institutions the ability to compete in larger spaces and we are quite excited that we are able to contribute to this mission.”
DefenseStorm brings together the investigation resolution detection compilers and reporting to a single system which carries the ability to deliver transparent real-time and complete cyber exposure readiness for the organizations. It helps the security teams to stay alert and executives informed so that they can easily e secure their own policies according to the industry guidelines and regulations.
About DefenseStorm
DefenseStorm is a Georgia, United States based company founded in 2014 by Sean Cassidy, Jeffrey Lunsford, Harold Brewer and Edgardo Nazario and is headquartered in Seattle, Washington. The platform offered by the company provides financial institutions with reporting, managing, smart response, big data community intelligence and security expert solutions.
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 based Cybersecurity Company, DefenseStorm has raised US$ 12 billion series B funding and US$ 7 million financing on 24 November 2020.){kind=link}