Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

Bit9 Raises $12.5 Million to Expand Its Endpoint Security Solutions

Waltham, Massachusetts based Bit9 Inc., a provider of endpoint security solutions, announced today that it has raised $12.5 million in funding, bringing the total raised by the company over the past year to $23 million.

Waltham, Massachusetts based Bit9 Inc., a provider of endpoint security solutions, announced today that it has raised $12.5 million in funding, bringing the total raised by the company over the past year to $23 million.

Bit9The company’s security solutions help provide visibility and control over all software on endpoints, to reduce the risk caused by malware, targeted attacks and Advanced Persistent Threats. Bit9 plans to use the funds to accelerate the its growth to meet increasing global demand for endpoint security, and says the investment will allow it to invest in new product development, expand across Europe and ramp up sales and marketing efforts.

According to IDC, the endpoint security market is expected to grow at a compound annual growth rate (CAGR) of 8.3 percent from 2010 to 2014, reaching nearly $10 billion by 2014, up from $6.6 billion in 2009.

“Sophisticated and targeted cyber-attacks are forcing businesses to evolve their protection strategies to include application whitelisting technologies as a core component,” said Jeff Fagnan of Atlas Venture. “Bit9 has been a vanguard in this space and is poised to take advantage of the global market opportunity, with the right mix of people, technology innovation and funds to move the company to the next level.”

In 2003, Bit9 was awarded a $2M United States federal research grant from the National Institute of Standards and Technology-Advanced Technology Program (NIST ATP) to conduct the research that is now at the core of its application whitelisting solutions.

The funding was led by founding investor Atlas Venture along with existing investors – Highland Capital Partners, Kleiner Perkins Caufield & Byers, and .406 Ventures. Paul Capital Investments joined as a new investor in the round.

Written By

For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Management & Strategy

Industry professionals comment on the recent disruption of the Hive ransomware operation and its hacking by law enforcement.

Management & Strategy

SecurityWeek examines how a layoff-induced influx of experienced professionals into the job seeker market is affecting or might affect, the skills gap and recruitment...

Management & Strategy

Tens of cybersecurity companies have announced cutting staff over the past year, in some cases significant portions of their global workforce.

Funding/M&A

Tenable has launched a $25 million venture fund to place bets on early-stage startups in the exposure management space.

Funding/M&A

Twenty-one cybersecurity-related M&A deals were announced in December 2022.

Cybersecurity Funding

Forward Networks, a company that provides network security and reliability solutions, has raised $50 million from several investors.