Cloud Security startup ProtectWise raises $25 million to accelerate its business

Cloud Security startup ProtectWise has raised $25 million to accelerate its business in enterprise security platform. The latest funding appears to be the company’s Series B round of funding and the investors are Arsenal Venture Partners, Top Tier Capital Partners, and Tola Capital.

ProtectWise security strategy is simple to understand- It eventually records all network traffic in an enterprise and saves it to the cloud. The data is indexed which later can provide customers useful forensic tools to search and review the traffic.

In general, any network breach detection takes 200+ days in order to get identified. Till then the CIO has to use network recording appliances to store all the big data related to network traffic.

ProtectWise offers cloud resources to its customers which can be used to store all the network traffic on a virtual appliance. Means, a CIO or the head of IT staff can potentially track hacking activity months after the hacker has entered their corporate network.

Additionally, as it is a cloud-based service it helps them reduce footprint related to storage appliances in their data center environments.

ProtectWise was launched in 2013 in Colorado and has around 70 employees. The company’s latest product ProtectWise Grid presents a pervasive visibility and automated threat detection for unlimited forensic exploration- on demand and exclusively through the cloud.

Today’s funding will raise the total investment of the company to $67 million. And the latest funding will also witness the appointment of new managing director to the company’s board of directors later this year.

Scott Chain and Gene Stevens are the founders of this cloud security company which offers services in Network Security, Cyber Security, and Cloud Security.

Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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