Attivo Networks Announces $15M Series B Financing Round

PRESS RELEASE

FREMONT, CA--(Marketwired - May 10, 2017) - Attivo Networks®, the award-winning leader in deception for cybersecurity defense, today announced it has closed $15M in Series B round funding, made up by major investors including Omidyar Technology Ventures, Bain Capital Ventures, Trident Capital Cybersecurity and Macnica Ventures, a corporate venture arm of Macnica, Inc.. As part of the Series B investment, Chris Bishko of Omidyar Technology Ventures has joined the Attivo Networks board. The company has seen strong adoption of deception technology for early detection and accelerated response to inside the network threats that have bypassed prevention security. Proven to be an accurate and efficient solution for advanced threat detection in financial, healthcare, technology, retail, and energy sectors, the additional investment will support further functionality development of the Attivo Deception and Response Platform, and expanding its sales initiatives across the globe.

"Attivo Networks changes the game against attackers by enabling organizations to massively deploy a variety of 'tripwires' -- decoys, lures and other deceits -- making it difficult for attackers to move throughout their network without being detected," says Chris Bishko, partner at Omidyar Technology Ventures and member of the Attivo Networks board. "Attivo's deception technologies offer an effective and low friction solution for advanced threat detection that is well on its way to becoming part of the mainstream security infrastructure."

"Since our initial investment in Attivo Networks, we have seen the company achieve clear leadership in the deception space based on technology innovation and customer traction with some of the world's best known brands," states Enrique Salem, partner at Bain Capital Ventures and Attivo Networks board member. "The company's delivery of a comprehensive platform, and an extensive list of technology partnerships to simplify incident response, has unquestionably provided organizations with a highly efficient choice in combatting the most advanced threats."

"Attivo Networks is the clear leader in the emerging space of deception solutions to improve real-time breach detection and incident response" states J. Alberto Yépez, Managing Director at Trident Capital Cybersecurity. "We are very impressed with Attivo's customer traction, experienced team and more importantly, its broad technology platform that enables ease of integration and co-existence with existing cybersecurity solutions deployed in customers' premises."

"The additional funding we have raised will be used to expand our lead in technology innovation and fuel our global expansion," states Tushar Kothari, CEO of Attivo Networks. "Deception is being rapidly adopted worldwide, because it closes the detection gap in a company's security posture. Attackers have proven time-and-again that they can bypass perimeter defenses and easily evade traditional detection tools. With its new approach to security, Attivo Networks deception not only accurately detects an attacker's presence, but also rewrites the rules on attackers, so that they have to be right 100% of the time."

There have been a number of milestones for Attivo Networks over the past year. The company has:

Analysts see the deception technology market growing rapidly, and according to FBR Capital Markets data, the market will be worth $3B by 2019.