Versive Raises $12.7 Million in Funding for AI-Powered Security Solutions

PRESS RELEASE

Seattle, WA - Versive, the leader in mission-focused adversary detection, today announced it has raised an additional $12.7 million in funding. Building on early market traction for the Versive Security Engine (VSE), this investment validates Versive’s approach: one built around the distinct characteristics of the adversary mission stages, objectives, and behaviors inside the network. Utilizing this framework allows the VSE to cut through network noise and highlight only the critical threats. Furthermore, this approach to automating human expertise with Artificial Intelligence (AI) is extensible. Versive will add new use cases leveraging the same software platform and underlying data.

"Versive continues to strategically apply AI on integrated data to automate human-like insight at scale," said Versive CEO Joe Polverari. "We know organizations are overwhelmed by data, unable to detect high-risk patterns in their network. We know that even with unlimited human resources, customers still wouldn’t be able to identify these patterns, systematically at scale. Therefore, we designed the VSE to focus analysts on legitimate, critical threats and to make investigation easy with transparent ThreatCases."

The value of anomaly detection has already been identified, but existing solutions fail to separate truly malicious threats from network noise. As highlighted in the Cisco 2017 Annual Cybersecurity Report, only 28% of security alerts are legitimate and 44% of security operations managers see more than 5,000 security alerts per day.

"Versive's momentum speaks to the demand for AI technologies that address key cybersecurity gaps and how they are uniquely suited to break through," said Kevin Zerrusen, Managing Director, Technology Risk, at Goldman Sachs. "This investment will help advance what we foresee as a clear leader in this space."

Versive has also earned recognition from prominent industry stakeholders, including:

"Versive’s next generation approach provides the detection and understanding of advanced adversary tactics we need to assist us in our cybersecurity defenses. We believe that Versive's combination of advanced AI and automation is an optimal way to help stay secure, now and in the future." – CTO, $2.5 billion credit fund

This latest investment brings Versive’s total funding to $54.7 million.