Compliance

DefenseStorm Raises $15 Million for Banking Security and Compliance Platform

DefenseStorm this week announced that it has raised $15 million in Series C funding, which brings the total investment in the company to $67 million.

JAM FINTOP, a venture fund focusing on financial institutions, shelled out $5 million in the funding round, with the rest coming from existing investors.

Ionut Arghire

June 9, 2022

DefenseStorm this week announced that it has raised $15 million in Series C funding, which brings the total investment in the company to $67 million.

JAM FINTOP, a venture fund focusing on financial institutions, shelled out $5 million in the funding round, with the rest coming from existing investors.

The Alpharetta, Georgia-based company offers cloud-based cybersecurity, compliance and fraud solutions that help banks ensure they can maintain a good cyber posture.

DefenseStorm’s GRID platform monitors a bank or credit union’s network, ensures that the observed activity matches defined policies, and automatically collects evidence to demonstrate compliance with regulatory standards.

“DefenseStorm and JAM FINTOP are fully aligned in our missions to make the best technology available to community banks. Our comprehensive approach to cyber risk makes it possible for all banks to take the right steps to protect their assets, customers, and reputation,” DefenseStorm CEO Steve Soukup said.

“Our integrated technology platform is purposefully Built for Banking, meaning everything we do is designed to meet the demanding requirements and regulations placed on banks,” Soukup added.

Written By Ionut Arghire

Ionut Arghire is an international correspondent for SecurityWeek.

Latest News

Click to comment

Webinar: How to Build Resilience Against Emerging Cyber Threats

Thursday, March 16, 2023

Join this webinar to learn best practices that organizations can use to improve both their resilience to new threats and their response times to incidents.

Webinar: Understanding Hidden Third-Party Identity Access Risks

Tuesday, March 28, 2023

Join this live webinar as we explore the potential security threats that can arise when third parties are granted access to a sensitive data or systems.

Are Encryption and Zero Trust Breaking Key Protections?

Compliance and ZTNA are driving encryption into every aspect of an organization’s network and enterprise and, in turn, forcing us to change how we think about protecting our environments. (Matt Wilson)

How the Best CISOs Drive Operational Resilience

Cyberattacks have exposed a myriad of vulnerabilities in our healthcare infrastructure, and will continue to do so as new and innovative medical technologies are developed. (Galina Antova)

Defeating the Deepfake Danger

Deepfakes are becoming increasingly popular with cybercriminals, and as these technologies become even easier to use, organizations must become even more vigilant. (Derek Manky)

Mistakes by Threat Actors Lead to Disruption, Not Just Better Blocking

Threat actors really only stop when their infrastructure is disrupted and their flow of funds disappears. (Landon Winkelvoss)

Advancing Women in Cybersecurity – One CMO’s Journey

Anna Tutt, CMO of Oort, shares her experiences and perspectives on how we can accelerate growth of women in cybersecurity. (Marc Solomon)

Application Security

Source Code Security Firm Cycode Launches With $4.6 Million in Funding

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

Eduard KovacsSeptember 24, 2019

Management & Strategy

The Effect of Cybersecurity Layoffs on Cybersecurity Recruitment

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...

Kevin TownsendJanuary 30, 2023