Vulnerabilities / Threats
2/21/2014
03:31 PM
Dark Reading
Dark Reading
Products and Releases
Connect Directly
RSS
E-Mail
50%
50%

Ionic Security Secures $25.5 Million in Series B Funding

Co-Lead by Google Ventures and Jafco, Leading Security Startup Prepares to Disrupt Traditional Perimeter Security

ATLANTA--February 20, 2014--Ionic Security Inc., delivering the first comprehensive distributed data security platform for the enterprise, today announced it has secured $25.5 million in venture funding. The round was co-lead by Google Ventures and Jafco Ventures with participation from existing investors Kleiner Perkins Caufield and Byers (KPCB), ff Venture Capital, Tech Operators, Maynard Webb and well-known security titans Dr. Paul Judge, Ken Levine, and Phillip Dunkleberger.

The investment from Google Ventures and Jafco Ventures validates Ionic Security's position as a leader in the movement to reinvent perimeter security, or lack thereof, and deliver unified security across the entire data lifecycle. Google brings the best-in-class data science, Internet scale engineering, and largest global infrastructure footprint to help the stealth security company as it prepares to enter the market. Ionic Security joins Jafco's impressive portfolio of cloud and security companies such as FireEye, Palo Alto Networks and Huddle.

"The megatrends of mobility and cloud computing have forced enterprises to re-think how they secure their key data and assets and who is best-positioned to help them in that regard," said Tom Mawhinney, general partner with Jafco Ventures. "The last decade was defined by securing the perimeter and our firm was fortunate to have backed companies such as Palo Alto Networks and FireEye. The next decade will be defined by getting distributed data security right, and we believe Ionic has delivered the world's first comprehensive solution that solves this challenge."

Ionic Security will use new funds to continue executing against its vision to address advanced security threats in a unique way unlike the traditional model of simply extending the perimeter, and building out its go-to-market strategy. This latest round of funding bringsIonic Security's total amount raised to $38 million.

Ionic Security was founded in 2011 by a team of security innovators, including CEO Steve Abbott, formerly with PGP Corp and Forsythe Technology, and Adam Ghetti, founder and CTO, recently named on Forbes' 30 under 30 list. The company is reinventing cloud security by delivering a unified platform which combines visibility, attribution, and granular control with massive-scale machine learning, and streaming graph analytics to provide enterprises with an unprecedented level of control of their data without the need for, or use of, gateways.

"Ionic has assembled a world-class team spanning security, enterprise software, cloud and mobility to solve the comprehensive data security challenges facing today's enterprise," Ted Schlein, managing partner at KPCB and renowned cyber security expert. "Their solution is unlike anything else and is poised to bring cloud security to the masses."

"We are working with Fortune 100 customers who are looking for new ways to protect their business, in light of the cloud-enabled workforce and BYOD. Businesses need protections across the entire data lifecycle with analytics and increased visibility to help regain control ofdevices, networks and applications on their networks," said Steve Abbott, CEO of Ionic Security. "Our company is solving the data security solution at Internet scale – on any device, any network and for any user, unlike gateway solutions, and we look forward to launching our product to a larger audience later this year."

"One of the biggest challenges facing enterprises today is managing distributed data security at internet scale," said Adam Ghetti, CTO of Ionic. "Not only does the Ionic platform solve this problem it is easier to manage than the traditional point-solutions they have in place today."

About Jafco Ventures

Based in Palo Alto, Jafco Ventures is a venture capital partnership that invests in early-stage companies with great teams that demonstrate differentiated technology, compelling business models and momentum in their respective markets. The firm's focus is to help portfolio companies efficiently scale to realize great outcomes. Jafco Ventures has had the privilege to invest in market-leading companies such as Aster Data, FireEye, 41st Parameter, Infinera, MoPub, Palo Alto Networks, and Proofpoint. To support this challenge the partnership consists of a core team of proven, early-stage venture capital investors, augmented by venture partners with best-in-classexperience in scaling companies and a world-class business development teambased in Tokyo. For more information about Jafco Ventures visitwww.jafco.com.

About Google Ventures

Google Ventures is the venture capital arm of Google Inc. We seek to discover and help develop great companies, and believe in the power of entrepreneurs to do amazing things. Our investments range from seed to late stage, across a broad range of industries, including consumer Internet, digital media, software, hardware, and biotechnology. We embrace the challenge of helping young companies grow from the proverbial garage to global relevance. For more information, visitwww.googleventures.com.

About Kleiner Perkins Caufield & Byers

Since its founding in 1972, Kleiner Perkins Caufield & Byers has backedentrepreneurs in more than 500 ventures including AOL,Amazon.com, Citrix, Compaq, Electronic Arts, Genentech, Genomic Health, Google, Groupon, Intuit, Juniper Networks, Netscape, Sun, Symantec, Verisign, webMD and Zynga. KPCB portfolio companies employ more than 350,000 people worldwide. More than 150 of the firm's portfolio companies have gone public, and many other KPCB ventures have achieved success through mergers and acquisitions. KPCB focuses its global investments in three practice areas - digital, greentech and life sciences - and provides entrepreneurs with company-building expertise out of its offices in Silicon Valley, Beijing and Shanghai.

About Ionic Security

Ionic Security (formerly Social Fortress) enables the use of cloud services by protecting sensitive data anywhere it travels and wherever it resides, whether on the corporate network, in the cloud or on mobile devices. The first unified data security platform of its kind, Ionic Security takes a comprehensive approach to securing data in today's borderless enterprise by providing access control, intellectual property monitoring, data encryption and policy management, without proxies or gateways or changes in user behavior. The company is headquartered in Atlanta, Georgia, and is backed by leading venture firms such as Kleiner Perkins Caufield & Byers, TechOperators and ff VC as well as industry experts Christopher Klaus, Ken Levine, Phil Dunkelberger and Dr. Paul Judge. More information is located atwww.ionicsecurity.com.

Comment  | 
Print  | 
More Insights
Register for Dark Reading Newsletters
Partner Perspectives
What's This?
In a digital world inundated with advanced security threats, Intel Security seeks to transform how we live and work to keep our information secure. Through hardware and software development, Intel Security delivers robust solutions that integrate security into every layer of every digital device. In combining the security expertise of McAfee with the innovation, performance, and trust of Intel, this vision becomes a reality.

As we rely on technology to enhance our everyday and business life, we must too consider the security of the intellectual property and confidential data that is housed on these devices. As we increase the number of devices we use, we increase the number of gateways and opportunity for security threats. Intel Security takes the “security connected” approach to ensure that every device is secure, and that all security solutions are seamlessly integrated.
Featured Writers
White Papers
Cartoon
Current Issue
Dark Reading's October Tech Digest
Fast data analysis can stymie attacks and strengthen enterprise security. Does your team have the data smarts?
Flash Poll
Video
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2014-7298
Published: 2014-10-24
adsetgroups in Centrify Server Suite 2008 through 2014.1 and Centrify DirectControl 3.x through 4.2.0 on Linux and UNIX allows local users to read arbitrary files with root privileges by leveraging improperly protected setuid functionality.

CVE-2014-8346
Published: 2014-10-24
The Remote Controls feature on Samsung mobile devices does not validate the source of lock-code data received over a network, which makes it easier for remote attackers to cause a denial of service (screen locking with an arbitrary code) by triggering unexpected Find My Mobile network traffic.

CVE-2014-0619
Published: 2014-10-23
Untrusted search path vulnerability in Hamster Free ZIP Archiver 2.0.1.7 allows local users to execute arbitrary code and conduct DLL hijacking attacks via a Trojan horse dwmapi.dll that is located in the current working directory.

CVE-2014-2230
Published: 2014-10-23
Open redirect vulnerability in the header function in adclick.php in OpenX 2.8.10 and earlier allows remote attackers to redirect users to arbitrary web sites and conduct phishing attacks via a URL in the (1) dest parameter to adclick.php or (2) _maxdest parameter to ck.php.

CVE-2014-7281
Published: 2014-10-23
Cross-site request forgery (CSRF) vulnerability in Shenzhen Tenda Technology Tenda A32 Router with firmware 5.07.53_CN allows remote attackers to hijack the authentication of administrators for requests that reboot the device via a request to goform/SysToolReboot.

Best of the Web
Dark Reading Radio
Archived Dark Reading Radio
Follow Dark Reading editors into the field as they talk with noted experts from the security world.