ZeroFOX, a Baltimore, Maryland-based provider of “Social Risk Management” solutions, announced on Wednesday that it has secured $10.7 million in Series A funding.
Founded in January of 2013, the company is focused on addressing social-based attacks through its Enterprise Social Risk Management suite, which helps organizations identify, manage, and mitigate security threats associated with employee and corporate use of social media.
With this new round of funding, the company has now raised $13 million over the last 12 months.
“From targeted social-based cyber attacks to fraud, phishing, social engineering and impersonations, the ZeroFOX Platform provides real-time risk management, threat intelligence and security analytics,” the company explains.
The company’s “ZeroFOX Cyber Cloud” also helps customers proactively identify and analyze active and ongoing attacks targeting their company, employees and end users through social media.
Additionally, using Plugins, ZeroFOX can feed actionable threat data into SIEMs, perimeter and endpoint infrastructure, to help stop attacks in progress.
The round was led by New Enterprise Associates (NEA) and includes a $450K “non-dilutive incentive” from the State of Maryland, ZeroFOX said.
Also participating in the round were earlier investors Genacast Ventures, Core Capital and a number of security industry veterans including former Symantec CEO Enrique Salem and former CEO of Barracuda Networks Dean Drako.
“We are very excited to join the ZeroFOX team as they work to defend against the growing problem of intelligent cyber threats,” said Peter Barris, Managing General Partner, NEA, and ZeroFOX Board Member.“The security space has not evolved at the same pace as new consumer social media tech has and we think ZeroFOX is poised to address a very critical part of security for enterprise customers. The team’s deep expertise in the security space positions them well to tackle this challenge, and we look forward to partnering with them.”
“Social media and peer-to-peer communications are increasingly used as a medium for attacking individuals’ digital personas and undermining enterprise security,” said Larry Walsh, Chief Analyst at The 2112 Group. “The need for effective identification and mitigation of social-based security threats is long overdue.”