Security Startup Synack Secures $7.5 Million Series A Round.
Delivering and advanced new model for vulnerability and security testing, Synack has recently announced that it has managed to secure $7.5 million in Series A funding. This seeding round was led by Kleiner Perkins Caufield & Byers (KPCB), with new participation from Google Ventures and existing investors Greylock Partners, Allegis Capital, and Derek Smith, the CEO of Shape Security.
Synack previously raised a total of $1.5 million in financial funding, bringing their total amount of raised capital to over $9 million. This funding will be used to continue employing and certifying a diverse set of world-class cyber security experts and to further develop Synack security platform.
“Today’s volatile threat landscape coupled with the lack of resources needed to protect the enterprise presents a significant challenge for businesses who are unable to scale their security solutions to stay ahead of these threats,” said Ted Schlein, general partner at KPCB. “Synack is taking a different approach by utilizing advanced stealth technology combined with a trusted global community of security researchers that enterprises can rely on to protect them at mass scale.”
Led by a former Senior Nation Security Agency analysis, Synack advancing traditional security models by mixing them with a massively scalable power of experts who crowd security intelligence with state-of-the-art technology to confront the rapidly transforming security needs of the enterprise.
“With the vast amount of enterprises migrating to the cloud, there is an increased number of attack vectors that leave businesses exposed to cyber threats,” said Karim Faris, general partner at Google Ventures. “Synack is addressing the next-generation of security threats on a global scale by tapping security researchers as an added layer of protection that may be missed by traditional security defenses.”
“The only way to defend against the influx of sophisticated cyber attacks is to combine advanced technology with human interaction to deliver quality and highly effective results at scale,” said Jay Kaplan, CEO of Synack. “Since we launched nine months ago, we have recruited some of the most elite, respected, and well known security researchers in the world and worked with enterprise customers across financial services, healthcare, education, and retail. The new funds will help us continue recruiting the best global security talent and further develop our technology platform.”