Threat Intelligence

3/7/2018
11:12 AM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Bandura Systems Closes $3.5 Million Seed Round

Company that pioneered Threat Intelligence Gateways for US government expands executive team, announces dual headquarters

COLUMBIA, Md. and ST. LOUIS, March 07, 2018 (GLOBE NEWSWIRE) -- Bandura Systems, which pioneered the threat intelligence gateway (TIG) in part with the U.S. Department of Defense, today announced it has closed its seed funding round. The $3.5 million financing came from Blu Ventures, Gula Tech Adventures, the Maryland Tech Development Corp. (TEDCO), Prosper Women Entrepreneurs (PWE), SixThirty, SixThirty Cyber and UMB Financial Corporation. TIGs are stand-alone threat prevention appliances that can process millions more threat indicators than traditional network security enforcement approaches. They help protect corporate networks by more effectively blocking known threats and making threat intelligence actionable.  They also complement and improve the performance of existing security solutions like firewalls and Security Information and Event Management (SIEM) software reducing the number of events that need detection and response, making employees more effective.

The funding will be used to support the growing demand for Bandura Systems PoliWall® TIG whose revenue quadrupled in 2017. Bandura is expanding its executive team, recently hiring prominent cybersecurity executive Chris Fedde as its new CEO and today also announcing Todd Weller as its Chief Strategy Officer. Fedde helped Bandura quickly close the round and is positioning the company for future growth. Weller will drive strategy and execution across corporate development, marketing, product management, and strategic alliances and partnerships. Prior to Bandura, Weller served as Vice President of Corporate Development and Marketing at Hexis Cyber Solutions, Inc. which was sold to a firewall vendor owned by Silicon Valley investors. He spent nearly two decades covering cybersecurity as a Wall Street analyst at some of the world’s most prominent financial services firms like Stifel, Nicolaus & Company, and Legg Mason.

“The cybersecurity market has been heavily focused on identifying ‘advanced’ threats, but that has put pressure on security teams to effectively and efficiently block the huge volume of known dangers,” said Fedde. “Threat Intelligence Gateways fill this role by addressing a key gap in existing security controls, which are not built to consume threat indicators on the millions of bad IPs and domains that exist. I’m excited to join Bandura, the company that pioneered TIGs, as enterprises of all sizes can begin using these Threat Intelligence Gateways.”

According to Ron Gula, head of Bandura investor Gula Tech Adventures and former CEO of Tenable Network Security, "The cybersecurity industry has done a great job producing threat intelligence, but Bandura can apply it. Bandura Systems allows organizations to be proactive in blocking these known threats to better protect their networks."  

In addition to announcing its funding and new executive appointment, Bandura is also announcing today it will have dual headquarters. Columbia, Maryland will now house Bandura’s business headquarters and Lake St. Louis, Missouri its engineering headquarters. For the exact location of Bandura’s offices, go to https://bandurasystems.com/contact.html.

About Bandura Systems
Bandura Systems pioneered the Threat Intelligence Gateway (TIG) in part with the U.S. Department of Defense. Bandura’s PoliWall™ is the most comprehensive, scalable and granular TIG platform on the market. Organizations worldwide use TIGs for the automation and control needed to operationalize hundreds of million threat indicators blocking known threats before they even reach the network firewall. Underlying Bandura’s robust technology are more than 50 issued and pending patents. To learn more about how Bandura’s PoliWall TIG reduces an organization’s attack surface, operationalizes threat intelligence and helps get more out of existing security investments, visit https://bandurasystems.com.

Media Contact
Andrew Goss
Voxus PR for Bandura Systems
[email protected]
253.444.5446

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7f66bae4-36a8-48eb-8b8a-e2f30975ad49

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Why CISOs Need a Security Reality Check
Joel Fulton, Chief Information Security Officer for Splunk,  6/13/2018
Cisco Talos Summit: Network Defenders Not Serious Enough About Attacks
Curtis Franklin Jr., Senior Editor at Dark Reading,  6/13/2018
Meet 'Bro': The Best-Kept Secret of Network Security
Greg Bell, CEO, Corelight,  6/14/2018
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-12294
PUBLISHED: 2018-06-19
WebCore/platform/graphics/texmap/TextureMapperLayer.cpp in WebKit, as used in WebKitGTK+ prior to version 2.20.2, is vulnerable to a use after free for a WebCore::TextureMapperLayer object.
CVE-2018-12519
PUBLISHED: 2018-06-19
An issue was discovered in ShopNx through 2017-11-17. The vulnerability allows a remote attacker to upload any malicious file to a Node.js application. An attacker can upload a malicious HTML file that contains a JavaScript payload to steal a user's credentials.
CVE-2018-12588
PUBLISHED: 2018-06-19
Cross-site scripting (XSS) vulnerability in templates/frontend/pages/searchResults.tpl in Public Knowledge Project (PKP) Open Monograph Press (OMP) v1.2.0 through 3.1.1-1 before 3.1.1-2 allows remote attackers to inject arbitrary web script or HTML via the catalog.noTitlesSearch parameter (aka the S...
CVE-2018-10811
PUBLISHED: 2018-06-19
strongSwan 5.6.0 and older allows Remote Denial of Service because of Missing Initialization of a Variable.
CVE-2018-10945
PUBLISHED: 2018-06-19
The mg_handle_cgi function in mongoose.c in Mongoose 6.11 allows remote attackers to cause a denial of service (heap-based buffer over-read and application crash, or NULL pointer dereference) via an HTTP request, related to the mbuf_insert function.