News
3/19/2014
09:53 AM
50%
50%

Verdasys Closes $12 Million Investment

Kenneth Levine joins Verdasys as CEO, replacing Jim Ricotta

WALTHAM, Mass., March 19, 2014 – Verdasys, the leading provider of advanced data protection for endpoints for Global 2000 and mid-sized companies, today announced a $12 million investment led by existing investors GE Pension Trust, advised by GE Asset Management, and Fairhaven Capital of Cambridge, Mass., with a new, individual investment from Brookline Venture Partners where Kenneth Levine is a co-founding partner. Levine is the former Senior Vice President and General Manager of Security Management at McAfee, now Intel Security. He joins Verdasys as CEO, replacing Jim Ricotta, who served that role for the past three years.

Verdasys participates in the nearly $20 billion security software market.[1] The company's flagship product, Digital Guardian, is known for its deep visibility and real-time control over user and malware activities on endpoints, as well as its proven scalability with almost two million endpoint agents deployed globally. Verdasys customers include seven of the top U.S. patent holders, numerous government agencies and companies protecting more than a trillion dollars worth of sensitive data, intellectual property and trade secrets. A leader in Gartner's 2013 Magic Quadrant for Content-Aware Data Loss Prevention, Digital Guardian is the only data protection solution to combine insider threat and cyber threat defense in an integrated platform, also available as cloud-managed service. The new funds will be used to fuel Verdasys expansion into new markets and additional data protection use cases, and expand existing and new industry partnerships and channels.

Levine was previously CEO and Chairman at NitroSecurity, a Portsmouth, N.H., developer of Security Information and Event Management (SIEM) tools acquired by McAfee in 2011. He served as General Manager of the McAfee Security Management Business Unit for two years with responsibility for the strategic direction of the business. Previously, he was a key member of the start-up team at Cabletron Systems. Inc., where he spent 15 years as Executive Vice President of Sales, growing revenue to nearly $2 billion. Levine founded Brookline Venture Partners in 2004 to invest in early-stage technology companies. He is a graduate of the University of Pennsylvania's Wharton School of Business.

"Security has evolved from a discretionary insurance policy or a necessity mostly suited to companies with crown-jewel assets to protect to perhaps the most critical area of IT," said Levine. "Verdasys is uniquely capable of controlling literally any action on an endpoint and has been extraordinarily successful in preventing malicious data theft by both skilled insiders and advanced malware. Verdasys Digital Guardian is the technology behind the prevention of many of the types of security breaches we see having a devastating effect on organizations and their brands, business, government and customer relationships. I very much look forward to helping further build Verdasys' market presence during this exciting time in our industry."

Levine will join the Verdasys board of directors, which also includes Mark Hatfield, Partner, Fairhaven Capital; Adam Stettner, Managing Director, Special Situations Fund; Hugh L. Warren, Professional Trustee, Loring, Wolcott & Coolidge; Anandh Hari, Vice President, Private Equity, GE Asset Management; and Michael Cristinziano, Corporate Vice President, Strategic Development, Citrix.

"Ken is a highly experienced technology leader with a track record for innovating products and accelerating sales growth. He has deep technology roots and can easily tap his network to build strategic alliances and partnerships with those who understand the fast moving security market and the challenges customers are facing, " said Fairhaven Capital's Hatfield. "We invested in Verdasys because we are confident in the exceptional value it brings to the IT security ecosystem. With this round and Ken at the helm we look forward to establishing Verdasys as the leader in data protection at the endpoint."

About Verdasys

Verdasys (https://verdasys.com) provides advanced data protection solutions for endpoints. Verdasys' flagship product, Digital Guardian, is the only solution that can empower businesses to detect and stop both insider and cyber attacks from a single platform. Digital Guardian was recognized as a leader in Gartner's 2013 Magic Quadrant for Content-Aware Data Loss Prevention and is a proven endpoint security solution which offers the broadest data visibility and endpoint control. Digital Guardian's capabilities span market-leading data classification, kernel-level visibility of system and end user behavior and behavioral detection rules that recognize anomalous behavior on endpoints. Since 2003, almost two million Digital Guardian agents have been deployed to protect critical data for government agencies and global leaders in financial services, insurance, technology, manufacturing and healthcare.

Comment  | 
Print  | 
More Insights
Register for Dark Reading Newsletters
White Papers
Cartoon
Current Issue
Dark Reading Tech Digest, Dec. 19, 2014
Software-defined networking can be a net plus for security. The key: Work with the network team to implement gradually, test as you go, and take the opportunity to overhaul your security strategy.
Flash Poll
10 Recommendations for Outsourcing Security
10 Recommendations for Outsourcing Security
Enterprises today have a wide range of third-party options to help improve their defenses, including MSSPs, auditing and penetration testing, and DDoS protection. But are there situations in which a service provider might actually increase risk?
Video
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2014-7241
Published: 2014-12-19
The TSUTAYA application 5.3 and earlier for Android allows remote attackers to execute arbitrary Java methods via a crafted HTML document.

CVE-2014-7249
Published: 2014-12-19
Buffer overflow on the Allied Telesis AR440S, AR441S, AR442S, AR745, AR750S, AR750S-DP, AT-8624POE, AT-8624T/2M, AT-8648T/2SP, AT-8748XL, AT-8848, AT-9816GB, AT-9924T, AT-9924Ts, CentreCOM AR415S, CentreCOM AR450S, CentreCOM AR550S, CentreCOM AR570S, CentreCOM 8700SL, CentreCOM 8948XL, CentreCOM 992...

CVE-2014-7267
Published: 2014-12-19
Cross-site scripting (XSS) vulnerability in the output-page generator in the Ricksoft WBS Gantt-Chart add-on 7.8.1 and earlier for JIRA allows remote authenticated users to inject arbitrary web script or HTML via unspecified vectors, a different vulnerability than CVE-2014-7268.

CVE-2014-7268
Published: 2014-12-19
Cross-site scripting (XSS) vulnerability in the data-export feature in the Ricksoft WBS Gantt-Chart add-on 7.8.1 and earlier for JIRA allows remote attackers to inject arbitrary web script or HTML via unspecified vectors, a different vulnerability than CVE-2014-7267.

CVE-2014-8272
Published: 2014-12-19
The IPMI 1.5 functionality in Dell iDRAC6 modular before 3.65, iDRAC6 monolithic before 1.98, and iDRAC7 before 1.57.57 does not properly select session ID values, which makes it easier for remote attackers to execute arbitrary commands via a brute-force attack.

Best of the Web
Dark Reading Radio
Archived Dark Reading Radio
Join us Wednesday, Dec. 17 at 1 p.m. Eastern Time to hear what employers are really looking for in a chief information security officer -- it may not be what you think.