Cyber-security startup enSilo closed the second tranche of its Series A financing, raising a total of $19 million for the round. The second tranche of $9 million was led by Rembrandt Venture Partners. Previous investors Carmel Ventures and Lightspeed Venture Partners also participated. To date enSilo has raised $21 million in total funding.
SAN FRANCISCO, CA – Feb. 25, 2016 – Cyber-security industry infiltration prevention tools (antivirus, firewalls, sandboxes, etc.) have largely failed, resulting in threat actors compromising the network. enSilo, the leading provider of a real-time data protection platform focusing on preventing data tampering and exfiltration, announced today that it closed the second tranche of its Series A financing, raising a total of $19 million for the round and $21 million in total funding. The second tranche of $9 million was led by Rembrandt Venture Partners with previous investors Carmel Ventures and Lightspeed Venture Partners participating.
enSilo has experienced rapid growth since its founding 18 months ago, with tens of deployments in the US. The new funding will be used to expand sales and marketing, and improve customer experience in support of the rapidly growing demand for the company’s products and services. enSilo’s real-time data protection platform is currently in use by a number of Fortune 100 companies along with leading defense contractors and payment solutions worldwide.
As the scope of digital data continues to expand, the threat of cyber-attacks targeting businesses, organizations, and governments will only grow. enSilo’s platform is based on the assumption that network infiltration cannot be prevented, as evidenced by the successful attacks appearing so frequently in our headlines. The company’s platform instead focuses on preventing data tampering and exfiltration – that is, the theft of critical data from the system by external threat actors – which are the ultimate and most costly consequences of a cyber-attack.
“Our fundraising success in this challenging market is driven by the recognition of the serious shortcomings of next-generation firewalls and AV products that kill network and computer performance and fail to prevent threat actors from entering in the first place,” said Roy Katmor, CEO of enSilo. “Other vendors focus on pointing at the potential infiltrator and require OPEX-rich learning periods, complex behavioral analysis or content awareness. enSilo’s platform provides immediate and preemptive prevention against the targeted attack consequences, allowing business as usual – even if they are already inside.”
A recent market survey by industry research firm Gartner Inc. found that, “When 44% of reference customers for EPP solutions have been successfully compromised, it is clear that the industry is failing in its primary goal: blocking malicious infections.” (source: Magic Quadrant for Endpoint Protection Platforms; Published: 1 February 2016). In December, 2015, enSilo revealed that a serious vulnerability found in Intel Security’s McAfee VirusScan Enterprise version 8.8 could have been exploited by malicious actors to bypass Windows protection features. Security products such as Kaspersky’s Anti-Virus 2015 MR2 and AVG Internet Security were also affected by the flaw.
“Finding real solutions to our security problems is about changing our mindset on how we secure data. enSilo delivers a unique and innovative approach that we are excited to support,” said Jerry Casilli, General Partner at Rembrandt Venture Partners. “This is a company that helps businesses protect their vital assets with a platform that is applicable across any industry. Their diverse approach to cyber-security shows the importance of bucking the status-quo and understanding both the threats and market demands. We are excited about their growth rate and their future.”
enSilo delivers a real-time data protection platform against advanced targeted attacks by preventing threat actors from establishing outbound malicious connections. With enSilo, organizations can continue running their businesses’ operations securely and without interruption, even during the investigation and remediation of attacks. enSilo is backed by Carmel Ventures, Lightspeed Venture Partners and Rembrandt Venture Partners. For more information, visit https://www.ensilo.com