Security analytics firm RedSeal has clenched $17 million in Series C funding, coinciding with a company re-launch that includes new offerings and an expanded management team.
RedSeal is now led by a former venture capitalist from Venrock Ventures, Ray Rothrock. And, the company has also added Pete Sinclair as COO, who is a managing partner at LeapFrog Ventures, one of RedSeal’s initial investors, and Mike Lloyd, CTO, who has been granted 21 patents in security, network assessment and dynamic network control. Before joining RedSeal, he was CTO of RouteScience Technologies (acquired by Avaya), where he worked on self-optimizing networks.
“RedSeal has built its reputation in the market through innovation and customer results. Now we have the ability to build on that momentum and pursue new opportunities in new markets,” said Rothrock. “This additional funding enables us to increase our engineering capabilities and expand our footprint both domestically and overseas. We’re privileged that these investors share our vision of enhanced security through visibility that provides insight into all possible network paths, and helps executives easily understand how disparate solutions are working together—or not—to protect digital assets and infrastructure.”
The new funding was led by Tyco and MATH Venture Partners, with additional participation from Pallasite Ventures and DRW. Existing investors Venrock, Sutter Hill, Icon Ventures, Leapfrog and Olympic Ventures also participated.
The money will go towards expanding the profile for the refreshed RedSeal security platform for threat intelligence. The product has been relaunched to focus on protecting critical data against the backdrop of emerging cloud and mobile technologies, and addresses breach damage not only within a targeted network but also within connected infrastructures such as the cloud.
Most organizations have operating siloes that create security gaps as disconnected groups handle different aspects of networking and security. At the same time, disparate point products don’t work together, different devices don’t talk to one another, and different monitoring and reporting products don’t communicate at all. RedSeal’s analytics engine is geared to providing a holistic view across this kind of fragmented environment. To do that, it creates a functioning model of the network as-is, then tests that model to identify security risks, evaluates and prioritizes needed actions, and delivers intelligence reporting.
“Companies need full visibility and context to harden their networks and respond effectively to breaches,” said Mark Achler, managing director at the company. “This missing element in most companies’ cyber-defenses is exactly the gap that RedSeal fills.”