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Fidelis Cybersecurity Raises $25 Million

Fidelis Cybersecurity, a Bethesda, MD-based company that provides automated threat detection and response solutions, on Tuesday announced that it secured a $25 million growth capital investment.

The funding, which brings the total raised by the company to date to nearly $50 million, will be used to extend product innovation, support business growth, and invest into the company’s 24x7 Managed Detection and Response (MDR) service. The round was led by existing investors.

Fidelis’ Elevate platform provides automated detection and response capabilities for network, cloud, endpoint and enterprise IoT systems. The 24x7 MDR service complements the platform by providing security experts for threat hunting and investigations.

“Our investors recognize Fidelis’ strong value proposition and ability to execute in a dynamic marketplace,” said Nick Lantuh, President and CEO of Fidelis Cybersecurity. “We are making significant investments in innovation to accelerate how security operations and incident response teams react to, manage and hunt for threats. We are doing this by building on our market-leading network traffic analysis solution which provides organizations with full visibility across their attack surface. By combining our patented technology, unmatched expertise and curated intel from our threat research team, we provide customers with deep visibility across increasingly complex environments, more accurate detections and the capability to respond faster and more effectively to threats and data loss.”

Fidelis customers include 15 Fortune 500 companies, 20 Forbes Global 2000 firms and nearly a dozen government agencies in the United States and elsewhere. Its website lists Barclays, the US Department of Energy, Emirates, the International Monetary Fund, NATO, Samsung Research America, and the U.S Air Force among its customers.

Fidelis acquired two companies in the past years: Resolution1 Security in 2015 and TopSpin Security in 2017.

Related: BitSight Raises $60 Million in Series D Funding Round

Related: Cylance Announces $120 Million in Funding

Related: Auth0 Secures $55 Million in New Funding Round

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.