More good news from the cybersecurity funding world: Hexadite has closed $8 million in a Series A funding round from Hewlett Packard Ventures, Ten Eleven Ventures and YL Ventures, who also invested in Hexadite’s seed round.
The company plans to use the funds to accelerate the push behind its automated cybersecurity incident response, Hexadite AIRSÔ, including investing in research and development in Israel, and expanding its marketing and sales operations worldwide.
In 18 months with $2.5 million in seed funding, Hexadite brought to market a security orchestration and automation solution, ramping up to protecting more than 500,000 devices in customers from the financial services, retail, technology, insurance, manufacturing, telecommunications, life sciences and healthcare industries.
“When we saw what Hexadite accomplished in such a short amount of time, we wanted to be a part of it,” said Lak Ananth, managing director of Hewlett Packard Ventures. “The ability to automate cyber alert investigations and shut down attacks in seconds gives customers a chance to defend themselves in a way that has never been possible. We’re excited to partner with Hexadite and help bring their innovations to market.”
Ten Eleven Ventures co-founder Mark Hatfield will join the Hexadite board. Hatfield is a long time security venture capital pioneer whose prior investments included Cylance, CounterTack, Trust Digital, Resilient Systems (Co3), and Digital Guardian.
“Enterprises are desperate to close the gap between security event detection and resolution,” said Hatfield. “We were very impressed with the maturity of Hexadite’s solution; they are the only company we’ve seen that truly understands how to fully automate the end-to-end incident response lifecycle. Hexadite’s ability to add intelligent automation and orchestration to resolve security events is a great leap forward that addresses a vital need for customers.”
Photo © Trong Nguyen