Vorstack Announces $52 Million Financial Round.
The provider of a new breed of enterprise security products, Vorstack has recently announced a successful raise of $5.2 million in financial funding round today, which was led by Tom Noonan and Glenn McGonnigle of TechOperators, including participates from security leader EMC Ventures as well as funding from previous Vorstack investors Aligned partners.
Enterprises have reported that cost a total of $3,000,000 to defend against an attack that only costs $1500. Vorstack offers information security professionals dramatic improvements during the mean time and cost it takes to identify and remediate salient threats. By utilizing the secure threat collaboration coupled with sophisticated automatic threat analysis, Vorstack’s platform speeds discovery time and reduces risk of cybersecurity threats.
“The cyber criminals are coordinating their attacks using the latest technologies,” said Joe Eandi, CEO of Vorstack. “Enterprises are using Vorstack to effectively coordinate defenses by overcoming the automation, regulatory and business process hurdles that prevented effective collaboration in the past.”
“With the recent security nightmare of the Heartbleed situation, and all of the recent data breaches in which millions of people have had their credentials stolen, I am happy to see a company like Vorstack emerging who is focused on automating the analysis of threat and fraud intelligence and enabling collaboration across industries,” said Jon Oltsik, senior analyst, Enterprise Strategy Group. “The more security information that can be automatically absorbed and shared by a company’s IT department, the better they will be at staying one step ahead of the bad guys and protecting their assets.”
“Companies across all industries are beginning to understand the need to collaborate in their defense against cyber-threats,” said Glenn McGonnigle, General Partner of TechOperators and new Vorstack board member. “We believe Vorstack’s real time analysis and analytics enabling companies to automate and secure effective and private collaboration is game changing for cyber-security.”