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Blackpoint Cyber Announces $6M Funding

2018-05-29
ELLICOTT CITY, MD, Blackpoint, a cybersecurity company, has raised $6 million in funding.
Blackpoint, a cyber security company offering unique patented lateral spread detection and network visualization, announced today a $6 million round of funding led by Adelphi Capital and Telcom Ventures with additional participation by Maryland Venture Fund.

Blackpoint's cyber security platform, SNAP-Defense, is breaking ground in the threat hunting and response realm; offering customers the opportunity to reduce their product stack, saving them time and money, and the ability to detain cyber threats extremely early in a breach - before they can spread. This new funding will enable Blackpoint to accelerate its sales and marketing efforts, enabling the company to scale in U.S. and foreign markets.

The cyber threat landscape is advancing at an alarming rate and many are not prepared, which is why the industry is being flooded with new tools and technologies every day. Most of these products are complex, expensive, and require large threat teams to manage. The result is increasing complexity, expense, and operational confusion. The SNAP-Defense platform was developed to specifically reduce the number of tools and amount of experience required to operate breach detection and response operations. SNAP's Live Network Map enables users to have an accurate and real-time visualization of every asset in their network, because you cannot defend what you cannot see. SNAP then focuses on universal threat behavior - the steps in a hack - such as network enumeration, lateral movement, and system administration tradecraft. Rather than dumping data into vast pools of arcane logs, SNAP delivers those behaviors to your desktop with all relevant information for an assessment, and if warranted, a one-click detainment of the contaminated device.

Recent advancements to the SNAP platform include a multi-tenant dashboard for MSSPs, a robust and automated compliance module, and a Networked Industrial Control Operations System (NICOS) module for securing smart building systems, industrial control systems, and operations technology, including factory and logistics control systems.

"At Adelphi Capital, we pride ourselves on fully supporting the companies that we invest in. We were attracted to Blackpoint because they meet our criteria of having an innovative and effective product that solves some of the largest problems in cyber today - having too many products that are not integrated and do not provide complete asset visualization," said Tom Donohue Jr, the President of Adelphi. "Jon and his team have built an amazing product and we look forward to growing with them as they expand their sales and marketing efforts."

"We are very excited to welcome Maryland Ventures as a new investor. Having the financial and strategic support of these sophisticated investors both validates the market opportunity and fuels our momentum as a company," said Jon Murchison, CEO and founder of Blackpoint.

Matt Gora and Jay Buchanan from DLA Piper acted as counsel to Blackpoint.

About Blackpoint

Blackpoint Cyber is a cyber security company delivering Next Generation Hunt and Response Software while reducing the security stack. Founded by former DoD cyber operations experts, it's their passion and mission to provide the fastest, easiest-to-use, and most cost-effective cyber security products to IT and Security professionals of all levels of experience. Backed by Telcom Ventures and Orbis Operations, Blackpoint has built substantial IP including a patented approach to their live network map and immediate lateral movement detection.
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