Cybersecurity startup Secdo has raised $10 million in a Series A round led by RDC and Check Point cofounder and chairman Marius Nacht, with participation from the founders of Anobit, a startup acquired by Apple back in 2011.
Founded out of Israel in 2014, Secdo promises to help security teams cut incident response times from hours to minutes. The Secdo platform automates the process of detecting and investigating suspicious activity, thereby “lowering the skills barrier,” as the company puts it, and making security teams more effective. It essentially provides insight and context for every endpoint to establish whether a detected “suspicious” activity indicates a real threat, such as ransomware.
The company had previously raised a $3 million seed round from the same investors, and it says its fresh cash injection will be used to expand its U.S. sales operations, customer support, and research and development (R&D).
“After major investments in solutions that try to prevent or detect threats, the industry’s focus is shifting to incident response,” explained Shai Morag, CEO and cofounder of Secdo. “Security teams are overwhelmed with alerts and are unable to respond effectively due to limited resources and the complexity of forensic collection and analysis. With Secdo, security teams can instantly investigate any lead and take immediate action to isolate and remediate the threat.”
Cybersecurity has been ripe for investment in 2016. A few weeks back, Proficio raised $12 million to grow its managed detection and response services, while Shape Security recently closed a $40 million round from some big names, including GV (Google Ventures) and Eric Schmidt. Meanwhile, LogRhythm raised $50 million to expand its platform that detects and prioritizes the neutralization of online security threats.
Other notable cybersecurity investments this year include StackPath, which raised $150 million; PhishMe, which nabbed $42.5 million; SafeBreach, which closed a $15 million round; Cylance, which attracted $100 million; Bay Dynamics, which drew in $23 million; and Darktrace, which raised $65 million.