Were you unable to attend Transform 2022? Check out all of the summit sessions in our on-demand library now! Watch here.
Confluera, a cybersecurity startup that helps companies autonomously detect and track attacks in real time, has raised $20 million in a series B round of funding led by Icon Ventures. The raise comes amid reports that cyberattacks have surged by at least a third during the COVID-19 crisis, with bad actors capitalizing on the number of people working from home on unsecured networks.
Founded in Palo Alto, California in 2018, Confluera is setting out to “turn security analysts into cyber defenders” by helping them stop breaches before they wreak havoc on a company’s systems. Spanning everything from targeted attacks to malicious insiders, Confluera is perhaps less about keeping attackers out than spotting them once they’re on a company’s network. Without such intervention, cybercriminals can spend months inside a company’s systems, stealthily looking for the best routes toward their final target.
As with many automated cybersecurity tools, Confluera frees up human security personnel to focus on more important work, instead of spending hours trying to join the dots between the thousands of alerts they receive daily — many of which are false positives. Given the much-discussed cybersecurity skills gap, automation can play a crucial role in giving security operations teams the bandwidth to tackle genuine threats.
Confluera has some notable names at its helm, including cofounder and board chair Bipul Sinha, who is also CEO of cloud data management giant Rubrik. Sinha is also a partner at Lightspeed Venture Partners, which led Confluera’s series A round last summer and participated in its latest raise. Cofounder and CEO Abhijit Ghosh was previously director of engineering at Juniper Networks.
Confluera had previously raised $9 million. The fresh cash injection will allow it to grow its platform and “deterministically identify and stop ongoing complex, multi-stage cyberattacks,” according to a statement.
*Confluera later amended the figure it had raised from $21 million to $20 million, and this article has been updated to reflect that change.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.