New Financing brings a total of $36m raised in 2017

Funding Meets Soaring Demand for Early Detection and Response to Information Security Threats

Dubai, United Arab Emirates – Attivo Networks®, the leader in deception solutions for cybersecurity defense, today announced it has raised $21 million in Series C venture capital funding. The funding round was led by Trident Capital Cybersecurity with participation from existing investors Bain Capital Ventures and Omidyar Technology Ventures.

The round of funding follows a $15 million Series B financing in May, representing $36 million raised in the last five months and a collective total of $45.7 million overall. This new funding will be used to support further development of the Attivo ThreatDefend™ Deception and Response Platform to address the evolving landscape of threats and attack surfaces and to add counterintelligence functionality. The company will also use the funds to expand global sales initiatives.

Attivo Networks announced that Alberto Yépez, a managing director of Trident Capital Cybersecurity and a pioneer of the cybersecurity industry, will join its board. Yépez has played significant roles as an entrepreneurial and public company CEO, board member, large company senior executive, serial entrepreneur, and an angel and venture capital investor.

Attivo Networks: Revenues Increased 300 Percent; Attracting Fortune 50 Customers

“Attivo is the clear leader in the emerging space of deception solutions that improves real-time breach detection,” Yépez said. “Deception puts attackers on the defensive making them work harder and increasing their costs.  High accuracy addresses the issue of too many alarms being reported by existing solutions and incident response is improved with the capture of specific techniques and tools being used by the attacker. This is the primary reason why companies are working closely with the Attivo team to help detect and more effectively respond to sophisticated cyber attacks.  Customers are pleased with Attivo’s ability to close detection gaps and easily integrate with their existing cybersecurity investment increasing their overall efficacy.”

Today’s Series C funding comes at an opportune time for Attivo Networks to expand amid the escalating demand for deception technology across the financial, healthcare, technology, retail, energy, and government sectors. Further adoption of the cloud with shared security models and a heightened need for specialized device protection of industrial control, Internet of Things, and point-of-sale systems has also fueled company growth. The company has seen revenues increase 300 percent year over year, accumulated an impressive list of Fortune 50 customers, and is engaged with over 350 companies in evaluation and trials of its deception and response technology.

Organizations need to realize that they can’t achieve 100 percent security. At the same time, it is important to have clear visibility on which perimeter-bound security solutions fail and be able to respond promptly. Attivo Networks deception-based detection effectively bridges this shortcoming,” said Ray Kafity, Vice President, Middle East, Turkey and Africa, at Attivo Networks. “Deception changes the asymmetry in today’s cyberwarfare. Attivo engineering has applied its deep expertise to deliver accurate and scalable solution for detecting threats within today’s evolving attack surface and enable defenders to win game.

Deception-based detection technology changes the game on attackers. Taking a page out of military operations, Attivo applies deception-based decoy and attacker luring technologies within the network to deceive and misdirect attackers into revealing themselves. Deception presents a unique opportunity to change the asymmetric war against cyber attackers, altering their reality and imposing increased cost as they are forced to decipher what is real and what is fake. It is a rare opportunity to exploit the trust that attackers have, slow their attack, and turn the tide against them.

“Attivo’s innovation is impressive and strengthens not only in-network detection but also serves to strengthen a company’s edge defense,” added Enrique Salem, managing director of Bain Capital Ventures. “Since our initial investment in Attivo in 2015, we continue to see the company chart new territory in deception use cases and in the value it presents to customers. Today we’re particularly excited about Attivo’s creation of deception technology for counterintelligence, opening new opportunities for the government to combat targeted attacks.”

 “Traditional security detection technologies must parse through oceans of data in hope of identifying suspicious activity.  This exercise is akin to looking for a needle in a haystack,” noted Chris Bishko, partner, Omidyar Technology Ventures. “Attivo’s deception solutions address the shortcomings of this paradigm. Deception “tripwires” are placed pervasively throughout the network, alerting on attacker engagement, and reducing the risk of incursions remaining undetected for extended periods, as seen in essentially all recent high-profile breaches.”

Attivo Networks Deception: Award-Winning Technology

Deception as an efficient approach to in network detection has been widely recognized by analysts, with Neil MacDonald from Gartner, Inc. recommending it as a 2017 top 10 cybersecurity initiative. In addition, Attivo Networks has received 19 awards from cybersecurity publications in 2017 alone. It has also attracted positive coverage from a number of technology analyst firms, including Gartner Inc. (Cool Vendor 2016), 451 Research, Frost and Sullivan, TAG Cyber, Ovum, and Information Security Group (ISG).

About Attivo Networks
Attivo Networks® is the leader in deception technology for real-time detection, analysis, and accelerated response to advanced, credential, insider, and ransomware cyber-attacks. The Attivo ThreatDefend™ Deception and Response Platform accurately detects advanced in-network threats and provides scalable continuous threat management for user networks, data centers, cloud, IoT, ICS-SCADA, and POS environments.  Attivo Camouflage dynamic deception techniques and decoys set high-interaction traps to efficiently lure attackers into revealing themselves. Advanced attack analysis and lateral movement tracking are auto-correlated for evidence-based alerts, forensic reporting, and automatic blocking and quarantine of attacks. For more information visit www.attivonetworks.com

© Press Release 2017