ZeroFOX Raises $11M in Series A Funding Led by NEA.
The social Risk management company, has recently announced that it has raised a total of $10.7 million during a Series A funding led by New Enterprise Associates (NEA). The funding round also included an additional $450k non-dilutive incentive from the State of Mary land.
Also participating in the round were previous investors Genacast Ventures (a fund in partnership with Comcast Ventures), Core Capital and a number of notable security industry luminaries including Enrique Salem (Board Member at FireEye and former CEO of Symantec), Dean Drako (Founder and CEO of Eagle Eye Networks and founder, BOD and former CEO of Barracuda Networks), Michael Fey (General Manager and WW CTO at McAfee), John M. Jack (Former CEO of Fortify and currently a Board Partner at Andreessen Horowitz), Ken Levine (CEO of Verdasys and former CEO of Nitro Security), and Todd Headley (former CFO of SourceFire), among others, bringing total funding over the last 12 months to $13 million.
“We are very excited to join the ZeroFOX team as they work to defend against the growing problem of intelligent cyber threats”
NEA is one of the largest venture capital firms in the world with a current investment fund of $2.6B. “We are very excited to join the ZeroFOX team as they work to defend against the growing problem of intelligent cyber threats,” said Peter Barris, Managing General Partner, NEA, and ZeroFOX Board Member. “The security space has not evolved at the same pace as new consumer social media tech has and we think ZeroFOX is poised to address a very critical part of security for enterprise customers. The team’s deep expertise in the security space positions them well to tackle this challenge, and we look forward to partnering with them.”
“I continue to be humbled by the support and momentum we are gathering at ZeroFOX,” said James C. Foster, Co-Founder and CEO of ZeroFOX. “Peter Barris and NEA are among the very best investors and business partners worldwide. Their confidence in our vision and our team are true testaments that we are on to something very big.”
According to a report done in 2013 by Verizon Data Breach, nearly 1/3 of all data breaches have occurred though social media as the main attack source. ZeroFOX is uniquely focused on these attacked vectors, allow organizations to identify, manage, and mitigate the fraud, phishing, social engineering and impersonations, the Zero FOX Platform provides real-time risk management, threat, intelligence and security analytics.
“Social media and peer-to-peer communications are increasingly used as a medium for attacking individuals’ digital personas and undermining enterprise security,” said Larry Walsh, Chief Analyst at The 2112 Group. “The need for effective identification and mitigation of social-based security threats is long overdue.”
“ZeroFOX is the only organization that sits at the intersection of cyber security and social media, helping customers address the information security risks associated with social,” said Evan Blair, Co-Founder and COO, ZeroFOX. “Now, with NEA’s support we are in position to become the global brand for Social Risk Management.”