GuardiCore, a cybersecurity startup with offices in San Francisco and Tel Aviv, announced this week that it had raised $15 million in an extend round of Series B financing led by TPG Growth and Greenfield Partners.
To date, the company has raised $48 million. Other investors include 83North, Battery Ventures, Cisco Investments and Dell Technologies Capital.
GuardiCore is one of a growing number of IT security vendors using deception-based technology to make it tougher for attackers to stage successful intrusions. Centra Security Platform, the company’s flagship offering, blends dynamic deception techniques, threat intelligence and automated response capabilities to detect and remediate attacks in real time.
“We’ve succeeded in driving rapid customer adoption and today are deployed at scale in some of the world’s largest organizations. TPG is a veteran investor with a successful history in software and technology,” said Pavel Gurvich, CEO and co-founder of GuardiCore, in a statement. “The addition of TPG to our already impressive list of investors is a strong endorsement that allows us to accelerate our growth in large enterprise accounts and expand our solution further into the broader global market.”
Cybersecurity firms are increasingly using deception, one of eSecurity Planet’s top security technologies for 2017, to turn the tables on attackers. Implementations vary, but deception essentially involves decoys and other lures to reveal attacks and stymie unauthorized attempts to access an organization’s IT systems.
In May, Fremont, Calif.-based Attivo Networks raised $15 million to advance its deception-based threat detection technology. “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,” noted Tushar Kothari, CEO of Attivo Networks.
TopSpin Security’s DECOYnet platform uses sensors, traps and network traffic analysis to make intelligent deception a hacker’s worst nightmare. DECOYnet offers a wide variety of decoy types, including Internet of Things (IoT) devices, to better mimic modern-day IT environments.
In June, market research firm Technavio predicted that the worldwide deception technology market will reach $1.49 billion by 2021, after expanding at a compound annual growth rate (CAGR) of nearly 10 percent. One reason deception-based security technologies are taking off is the increased use of smartphones and other mobile devices, according to Amrita Choudhury, lead analyst at Technavio IT security research.
“The increase in the use of mobile devices such as laptops, mobile phones, and tablets is the major revenue generating factor in the deception technology market,” said Choudhury in a statement. “The increasing personal and professional uses of these devices is increasing the demand for security in these devices.”