Fortscale, which uses machine learning and big data analytics to detect malicious user behaviour, announced today a funding round of $7 million.
The San-Mateo, Calif.-based startup developed software that analyzes the behavior of employees and entities inside enterprises — including contractors, partners, and even devices — to determine if there’s anything suspicious that needs further investigation.
“It all comes down to monitoring user credentials,” wrote Idan Tendler, founder and chief executive of Fortscale, in an email to VentureBeat. “Hackers are after credentials so they can pretend to be a legitimate employee to steal data. Companies must also be aware of rogue employees with malicious intent. Edward Snowden is probably the best example of the damage a rogue employee can potentially inflict.”
When we last spoke to Tendler in 2014, Fortscale’s user entity and behavior analytics (UEBA) product was still in private beta. It has since been deployed in the U.S., Europe, and Israel to dozens of customers, which include UST Global and Playtech. The subscription model is based on the number of monitored users — price per user varies between $5 and $50 per year, depending on the size of the organization and the use cases.
Tendler counts Exabeam and Securonix as competitors in this sector.
Fortscale also announced the launch of a new product today — Presidio. Tendler claims it is the industry’s first embedded UEBA that allows security vendors to quickly and simply incorporate advanced behavioral analytics natively into their security platforms. “One of our early customers told us that deploying Presidio on top of their existing DLP [data loss prevention] infrastructure was like adding an artificial intelligence layer on top of their security operations,” Tendler wrote.
Evolution Equity Partners and Valor Capital Group led this new round of funding. Previous investors Intel Capital, Blumberg Capital, Swarth, CME Ventures, and UST Global also joined. Fortscale will use the new money to expand in Europe and establish a presence in Latin America. The funds will also allow an expansion of research and development (R&D) operations in Israel, Tendler wrote.
Founded in 2013, Fortscale has raised $23 million to date and currently has 40 employees in San Mateo, Boston, and Tel Aviv.