Security Firm Bit9 Gets $34.5 Million
The funding round was led by new investor Sequoia Capital.
Bit9 recently announced that it has closed $34.5 million in Series D funding, led by new investor Sequoia Capital along with existing investors Atlas Venture, Highland Capital Partners, Kleiner Perkins Caufield & Byers, and .406 Ventures.
"The company has grown 100 percent each year for the past two years and currently protects more than 700 organizations across multiple industries, like education, finance, enterprise, government, healthcare, retail and utilizes, from cyber attacks," writes VentureBeat's Rebecca Grant.
"The company’s main product is an enterprise whitelisting application service; it controls which software and IP addresses are allowed to enter into a company’s system," writes Business Insider's Andrea Huspeni. "Bit9 plans on using the funds to add to the security services it already provides while also increasing its sales and marketing efforts."
"The company bills itself as the next-generation solution to advanced persistent threats (or APTs in cyber-security speak) like Flame, a recent example of state-backed malware, also known as a cyber-attack toolkit, that surreptitiously collected private data from several countries in the Middle East," writes Forbes' Parmy Olson.
"This latest round of funding is the largest in the company’s history and underscores the support Bit9 has received from investors who understand the changing nature of the security market," Bit9 president and CEO Patrick Morley said in a statement. "It places a bet squarely on our vision and technology. It’s an exciting time as we are dramatically changing how organizations protect themselves from IP theft and advanced attacks by focusing on a trust-based approach."