NitroSecurity, Inc., a provider of “content-aware” security information and event management solutions (SIEM), today announced that it has secured $6 million in Series B funding. The company also announced that is has acquired the security business of LogMatrix, a Marlborough, MA provider of network monitoring solutions.
The round was co-led by existing investors Brookline Venture Partners, First Analysis and NewSpring Ventures. The investment will be used to expand NitroSecurity’s domestic and international market presence, evolve its NitroView SIEM product family, fund future acquisitions, and integrate LogMatrix’s risk-based assessment and correlation technologies.
NitroSecurity is increasing its investments in the high-growth federal, healthcare and critical infrastructure markets in the United States. Internationally, the company is expanding its presence in the fast-growing EMEA, Asia Pacific and Latin American security markets.
The company claims to have the highest performance SIEM in the industry, capable of collecting, analyzing and reporting larger amounts of security information faster than any other solution, with the ability to generate reports against billions of events in a matter of minutes.
“Due to relentless cyberthreats and increasing regulation, demand for our solutions has never been stronger – and it’s growing rapidly,” said Ken Levine, president and CEO of NitroSecurity. “This funding and technology acquisition help ensure that we continue to anticipate the needs of our customers and aggressively grow revenues in new markets and geographies,” Levine added.
