NEWS
NEWS
NEWS
Threat Stack nabs $15.4M in funding to bolster its cloud security platform
Security startups are making the most out of the venture capital community’s growing interest in network protection software. Last week, Switzerland’s Nexthink SA raised $40 million to fund the development of new features for its endpoint monitoring platform, and now the Boston-based Threat Stack Inc. is joining the fray as well with the announcement of a $15.4 million round of its own.
The capital will be spent on hiring more salespeople and marketers to promote its cloud-based service, which uses loggers deployed throughout an organization’s infrastructure to collect security data. Threat Stack says that its technology can cover everything from an organization’s in-house hardware to its remote AWS deployments, including the workloads running on top. The information from the different components of an environment is pooled in a central repository, correlated with third party threat intelligence and then analyzed to find potential threats.
That includes software vulnerabilities as well as more immediate risks such as malware infections and unauthorized data access incidents. Threat Stack says that its service looks not only for external attempts to steal an organization’s information but also suspicious behavior from internal users, who Intel Corp. has identified as nearly as big of a threat as outside hackers. The functionality can double to help a company ensure its systems live up to its industry’s various security and privacy standards, which has earned the startup a great deal of popularity among highly regulated organizations like healthcare providers.
Another major reason for Threat Stack’s rise is the accessibility of its service: It charges as little as $9 per server per month, which is appealing to tight-budgeted hospitals and other economically-minded organizations. Besides salespeople, the startup also plans to invest the new funding in hiring engineers who can make its service even more attractive for such companies. The outfit is aiming to double its headcount by the end of the year.
Image via Pixabay
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