Security Experts:

Endgame Systems Secures $23 Million in Funding From Paladin Capital

Endgame Systems, a company specializing in detecting cyber-attacks and securing corporate networks announced that it has raised $23 million in Series B funding led by Paladin Capital.

The company plans to use the cash infusion to broaden share among government customers and to expand the Web-based Cyber Operations Platform into the commercial market.

“The cyber needs of federal and commercial entities are converging as states look beyond targeting other states to target private companies, and national security thinking must increasingly account for private infrastructure,” said Nathan Fick, CEO of Endgame.

The company has developed a Web-based malware detection service called Cyber Operations Platform, which helps businesses assess the security of their systems without having to worry about granting access to internal network traffic. This platform was generally developed for the government market.

Endgame provides organizations with real-time data analytics visualization and knowledge discovery through the platform. The integrated dashboard allows organizations to monitor the network for suspicious activity in real-time.

Endgame's services help organizations collect, analyze, and use attack and security event data in order to protect sensitive data and critical systems.

“I’m excited about leveraging the solutions and technology that our mission partners depend on to help businesses with comprehensive command and control of their network operations,” Fick said.

Previous investors Bessemer Venture Partners, Columbia Capital, Kleiner Perkins Caulfield & Byers, and TechOperators also participated in the current round.

Along with the cash investment, Lt. Gen (Ret) Kenneth A Minihan, the former director of the U.S. National Security Agency and current managing director at Paladin, will join Endgame's border.

“The cyber domain will be increasingly important across all dimensions of national power–military, economic, and informational,” said Minihan. “Endgame’s revolutionary technology allows its customers to use intelligence seamlessly to gain situational awareness and support their end-to-end network operations.”

Endgame has raised $52 million to date, including the $39 million in its first round of venture backing in 2010. Its leadership team is heavy with extensive defense and military experience.

The company is led by Nathaniel Fick, the former CEO of the Center for a new American Security, an independent research institution, and a former U.S. Marine who served as an infantry officer in Afghanistan and Iraq. Chris Rouland, the founder of the company, is still on the Endgame board. Matt Georgy, a senior executive at the Department of Defense, is the CTO, and Christopher Darby, the president and CEO of In-Q-Tell, an independent strategic investment firm supporting the U.S. intelligence community, is the chairman of the board.

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Fahmida Y. Rashid is a Senior Contributing Writer for SecurityWeek. She has experience writing and reviewing security, core Internet infrastructure, open source, networking, and storage. Before setting out her journalism shingle, she spent nine years as a help-desk technician, software and Web application developer, network administrator, and technology consultant.