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9/29/2015
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Phantom Cyber Raises $6.5M to Automate Security Operations

TechOperators and Blackstone Lead Round to Develop the "Connective Tissue" for the Security Industry

Palo Alto, CA – September 28, 2015 – Phantom Cyber, a provider of security automation and orchestration, has raised $6.5M in Series A funding from Atlanta-based TechOperators and Blackstone (NYSE: BX), one of the world’s leading global asset managers. Blackstone made the investment after using the product for several months as an Early Experience user. Zach Nelson, CEO of NetSuite Inc. (NYSE: N), John Thompson, CEO of Virtual Instruments and former CEO of Symantec, and Rein Capital also participated in the round. With the funding, Thomas E. Noonan, former CEO of Internet Security Systems (ISS), and General Partner at TechOperators, will join the Phantom board.

Organizations have adopted dozens of security technologies over the past decade, resulting in an army of point products, each delivering discrete capabilities and its own respective console.  This piecemeal, static, and human-dependent approach is no match for today’s adversary.

Phantom streamlines security operations, solving the ‘last mile’ of the security problem and helping organizations deal with a massive shortage in security talent. The company provides a security automation and orchestration platform that integrates with an enterprise’s existing security technologies to provide a layer of “connective tissue” between them. Organizations use Phantom’s digital “Playbooks” to execute in seconds what may normally take minutes or hours to accomplish across dozens of point products used in a typical enterprise security environment.

“Phantom is a force-multiplier for our security team,” said Jay Leek, Chief Information Security Officer at Blackstone. “By leveraging the platform, we are able to automate processes such as malware investigation and containment, threat indicator hunting and deployment based on threat intelligence sources, phishing investigation, and regeneration of our environment in the event of a breach. Phantom delivers instant productivity gains, enabling us to respond faster, do more with our existing resources, and get the most out of our security investments.”

“Security teams are desperately looking for a way to simplify their jobs, and regain control of their environment,” said Thomas E. Noonan, former CEO of Internet Security Systems (ISS) and General Partner at TechOperators. “They have been searching for a Rosetta Stone to enable communication across numerous disparate systems, each of which has been purpose-built to provide specific security functions. Phantom gives organizations the ability to manage, update, and enhance their security systems in a fraction of the time it takes today, completely changing the dynamics and expectations for how secure an enterprise can be.”

 “Just as automation has improved finance, marketing, human resources, software development, and other aspects of IT, it is now time for security to benefit,” said Phantom Cyber founder and CEO, Oliver Friedrichs. “Initial demand has been tremendous and we are pleased to have the support of some of the industry’s leading minds to help us as we accelerate Phantom’s market penetration and product development.”

Phantom currently provides integration with over 30 of the industry’s leading security solutions. Phantom’s Early Experience program is immediately available to qualified organizations. For more information, visit www.phantom.us/product.

Phantom Cyber was founded by enterprise security veterans Oliver Friedrichs and Sourabh Satish.  Friedrichs previously founded and co-founded three highly successful internet security companies -  Immunet (acquired by Sourcefire), Security Focus (acquired by Symantec) and Secure Networks (acquired by McAfee). Satish was previously a distinguished engineer with Symantec, and has 156 issued and 51 pending patents.

About Phantom Cyber:

Phantom Cyber automates enterprise security operations. In the face of problematic trends including the dramatic increase and volume of attacks, severe shortages in qualified personnel, growth in the diversity and complexity of IT security environments and unforgiving consumers, investors and regulators holding management to task for breaches, Phantom Cyber arms security operations with the automation and orchestration solutions that ready them to defend their company’s business. Phantom Cyber was founded by enterprise security veterans Oliver Friedrichs and Sourabh Satish who have helped propel companies like Symantec, Sourcefire, Cisco and others to success. For more information visit www.phantom.us.

Media Contact
Zenobia Godschalk

 

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