So far, the first two months of 2017 have been very active for venture capitalist providing new funding for security vendors. On Feb. 28, Fortscale announced that it has raised $7 million in a new round of funding, bringing total funding to date for the company up to $23 million.
The new funding round was led by Evolution Equity Partners and Valor Capital Group and included the participation of Intel Capital, Blumberg Capital, Swarth, CME ventures and UST Global. The new money is set to be used by Fortscale to help grow the company’s go-to-market efforts around the world.
The core technology that Fortscale builds fits into an industry category known as User and Entity Behavior Analytics (UEBA). The goal with UEBA is to help identity anomalous activity that could potentially be an indicator of threat or compromise in an organization.
Alongside the funding news, Fortscale also announced its new Presidio embedded UEBA platform. As opposed to a more traditional approach to UEBA which requires an external system, the embedded approach offers the promise of a more streamlined integrated model for threat discovery.
“Because Presidio is natively embedded in their current security infrastructure, end users get the full benefit of the context and insights that behavioral analytics provide, without having to deploy and manage another product,” Idan Tendler, founder and CEO, Fortscale, said in a statement.
The Presidio platform will join Fortscale’s existing UEBA for Security Operations Centers (SOC). The Fortscale UEBA platform provides anomaly detection, data analytics, risk scoring, rapid response investigation tools as well as alert forwarding capabilities.
“2017 is shaping up to be a momentous year for Fortscale with the release of Presidio and the continued expansion of our global business operations,” Tendler stated.
The UEBA market overall is an extremely hot one.
On Feb. 28, Palo Alto Networks announced the $105 million acquisition of privately-held LightCyber, largely for the company’s UEBA capabilities.
Exabeam announced on Feb. 7, that has raised $30 million to support its UEBA technology platform. Also in February, Hewlett Packard Enterprise (HPE) acquired UEBA vendor Niara. Among the other large UEBA deals in recent years is one in July 2015 when Spunk acquired UEBA vendor Caspida in a $190 million deal.
Sean Michael Kerner is a senior editor at eSecurityPlanet and InternetNews.com. Follow him on Twitter @TechJournalist.