6/21/2019
11:15 AM

Startup Raises $13.7M to Stop Breaches with Behavioral Analytics

TrueFort plans to use the funding to expand sales, marketing, R&D, customer support, and go-to-market initiatives.



TrueFort, an application behavior security analytics company, has raised $13.7 million in Series A funding, which will be used to expand its business of protecting organizations from breaches.

Former bank technology executives developed TrueFort's behavioral analytics technology, which it calls "a last line of defense" against threats to core business applications. Its system, based on transaction processing architectures in financial services, monitors baseline application behavior and end-to-end interdependencies to spot malicious activity as it happens.

The idea is to provide greater visibility in core enterprise applications, which are often a blind spot from a security and regulatory reporting standpoint — and a pain point for CIOs and CISOs. TrueFort aims to up breach defenses by protecting the apps that execute business processes.

"Until now, organizations had no way to map, understand and monitor the dependencies and behavior of their business applications, which explains why so many security breaches go undetected for so long," said Nazario Parsacala, TrueFort's CTO, in a statement. The goal is to automatically block activity outside the predefined operating parameters for each application.

This funding round was led by Evolution Equity Partners with participation from Lytical Ventures and Emerald Development Managers. As part of the round, Evolution partner Karthik Subramanian will join TrueFort's board of directors, the company says. It plans to use its funding to add to sales, marketing, R&D, customer support, and go-to-market projects.

Read more details here.

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