Ontario-based Interset, a provider of advanced threat detection solutions, has received $10 million in funding. The investors were Toba Capital, Informatica, Anthem Venture Partners and Telesystem Ltd.
OTTAWA–(BUSINESS WIRE)–Advanced threat detection innovator Interset has closed a $10M round to expand the capabilities and accelerate adoption of its advanced threat detection platform, the company announced today. Interset’s platform enables IP driven companies to deliver an effective defense against targeted attacks and data breaches in industries such as manufacturing, defense, technology, energy and pharmaceuticals. New investors include lead investor Toba Capital, and Informatica, (Nasdaq:INFA), the world’s number one independent provider of data integration software. Continued support from existing investors Anthem Venture Partners and Telesystem Ltd. completed the round.
Interset addresses the most critical problem facing enterprises today: how to quickly and accurately detect real threats to intellectual property and other sensitive data and have enough information about the threats to stop them before data is stolen. Headlines are painful warnings of how unsuccessful companies are in detecting attacks. Most security teams struggle across the same two extremes – either they have no visibility to potential attacks or they are overwhelmed with thousands of security events, some important, but most just noise. In most cases, the attack is detected weeks or months later, after data is compromised.
The Interset Advanced Threat Detection Platform creates an actionable and prioritized view of the real threats facing organizations. It works by connecting big data feeds from previously siloed repositories and data sources including application and operating system logs, identity repositories, existing security tools and endpoints — the places where critical threat data resides. The Interset platform correlates millions of these events, connecting the interrelated activities of identities, machines and assets. The data is delivered to Interset’s patent-pending behavioral analytics engine, which applies multiple mathematical frameworks to effectively identify and compute threats from either a single dataset, or corroborating events across multiple datasets, to rapidly identify threat actors and other high-risk entities.
The funding round will be used to expand the capabilities of Interset’s platform, accelerate adoption among new customers and develop Interset OEM partnerships, such as the recently announced source code threat protection solution with Perforce Software.
One customer deploying Interset is Surescripts, the nation’s largest health information network. According to Paul Calatayud, CISO at Surescripts, “The value is being able to monitor all data exits, including electronic transfers, screen captures, prints, and unauthorized or authorized data shares for data exfiltration. I am especially interested in watching source code, PHI & HIPPA regulated data, and clinical data files. Interset gives me the visibility I need across all those data assets, while helping greatly reduce the noise created by the massive amounts of data events we collect. This allows my team to focus in on what is important and take action to prevent misuse.”
Interset is the second monitoring and analytics software company led by president and CEO Dale Quayle, a 25-year veteran of enterprise software who was previously CEO of Integrien, sold to VMware in 2010. Integrien analytics software enabled IT managers to analyze the performance of their IT infrastructure and predict faults and failures.
Michael Coffman, Partner at Toba Capital, said, “I’m pleased to be working with Dale Quayle and the team at Interset. Not only does Interset represent the ideal combination of an experienced and visionary executive team in an important and challenging market, but they’ve determined how to deploy an easy to use data protection solution that is aimed straight at the biggest challenge facing their customers — detecting and surfacing targeted insider and outsider attacks while eliminating the growing “noise” problem that is paralyzing security teams today.”
Interset, a winner of the Security Innovation Network™ (SINET) 16 Innovators competition supported by the Department of Homeland Security, Science & Technology Directorate, is aggressively building out new threat visualizations to make it easier for security teams to understand how attacks are unfolding and how to defend against them. Central to this approach is a new multidimensional kill-chain view to be showcased at the RSA Conference 2015 April 20-24 in San Francisco.
According to Interset’s Quayle, “Many people are looking to analytics to solve the threat detection challenge, but few companies are delivering a platform that is mature enough to actually cover the required use cases. Customers tell us the Interset platform combines the right mix of probabilistic math and critical datasets required to effectively detect and surface the real risks and threats they face today. Our engineers and data scientists have built an extremely flexible, powerful and scalable threat detection solution. By adding new, experienced and knowledgeable investors who understand the security challenge, and with the influx of fresh capital, Interset is set for an exciting period of rapid innovation and growth.”
Interset provides a highly intelligent and accurate insider and targeted outsider threat detection solution that unlocks the power of behavioral analytics, machine learning and big data to provide the fastest, most flexible and affordable way for IT teams of all sizes to operationalize a data protection program. Utilizing agentless data collectors, lightweight endpoint sensors, advanced behavioral analytics and an intuitive user interface; Interset provides unparalleled visibility over sensitive data, enabling early attack detection and actionable forensic intelligence without false positives or white noise. Interset solutions are deployed to protect critical data across the manufacturing, life sciences, hi-tech, finance, government, aerospace & defense and securities brokerage industries. For more information, visit https://www.interset.com/ and follow us on twitter @intersetca.