Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

Damballa Raises $13 Million to Support Expansion

Damballa, a provider of threat protection and containment solutions, has raised $13 million to capitalize on growing demand for its automated breach defense platform.

Damballa, a provider of threat protection and containment solutions, has raised $13 million to capitalize on growing demand for its automated breach defense platform.

The company will use the new injection of cash, all coming from existing investors, to support global sales, marketing and channel efforts.

The Atlanta, Georgia-based company’s “Damballa Failsafe” offering is an automatic breach defense system that identifies evidence of malicious network traffic in real time and helps discover and validate successful infections, giving incident responders the ability to pinpoint compromised devices and quickly mitigate risk.

Failsafe delivers actionable information about known and unknown threats regardless of the infection’s source, entry vector or OS of the device, the company explained. 

“Today’s threats evolve constantly and prevention tools can’t stop infections they haven’t seen before,” said David Welsh, Partner at Adams Street Partners. “The market is ripe for Damballa’s very different approach to detecting and stopping infections with certainty. The market dynamics, combined with the impressive steps the company has taken in the past year – driving revenue growth and building out strong channel and strategic alliances for future success – make us very excited about the opportunity for Damballa.”

“CSOs and their teams are overwhelmed with alerts,” said David Scholtz, CEO of Damballa. “Instead of wasting time chasing false positives or doing deep investigative work to confirm true infections, they need a security system that can automate the heavy-lifting. Damballa provides automatic and indisputable evidence of successful infections so responders can immediately prevent damage. That message is resonating with a broad range of enterprise organizations around the world.”

The company has raised a total of $57.5 million in funding to date.

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

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.

Cyberwarfare

Websites of German airports, administration bodies and banks were hit by DDoS attacks attributed to Russian hacker group Killnet

Network Security

NSA publishes guidance to help system administrators identify and mitigate cyber risks associated with transitioning to IPv6.

Identity & Access

Hackers rarely hack in anymore. They log in using stolen, weak, default, or otherwise compromised credentials. That’s why it’s so critical to break the...

Malware & Threats

Microsoft plans to improve the protection of Office users by blocking XLL add-ins from the internet.

Funding/M&A

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

Cybercrime

CISA, NSA, and MS-ISAC issued an alert on the malicious use of RMM software to steal money from bank accounts.

Cybercrime

Chinese threat actor DragonSpark has been using the SparkRAT open source backdoor in attacks targeting East Asian organizations.