ALPHARETTA, GA, DefenseStorm has raised a $12 million Series B round, bringing its total funding to $47 million.
DefenseStorm, the leading cloud-based cybersecurity and cybercompliance management provider to regional and community banks and credit unions, announced today that it has raised a $12M Series B round, bringing its total funding to $47M. Georgian, a fintech investing in high growth technology companies, led the round, with participation from TTV Capital.
Founded in 2014, DefenseStorm unifies detection, investigation, resolution and reporting into a single system of record to deliver real-time cyberthreat exposure and safety. DefenseStorm's growth comes at a time in which the financial sector has seen cyberthreats increase rapidly. This round of funding will accelerate DefenseStorm's capabilities to better help its customers.
DefenseStorm has also secured $7M in growth capital financing from CIBC Innovation Banking.
DefenseStorm provides cybersecurity and cybercompliance solutions specifically built for banking to achieve and maintain Cyber Safety & Soundness. The DefenseStorm GRID is the only co-managed, cloud-based and compliance-automated solution of its kind, operating as a technology system and as a service supported by experts in FI security and compliance. It watches everything on a bank's network and matches it to defined policies for real time, complete and proactive cyber exposure readiness, keeping security teams smart and executives accountable. FFIEC CAT requirements are built-in and automated, as can be other frameworks and an FI's own policies, to achieve Active Compliance. A Threat Ready Active Compliance (TRAC) Team augments a bank's internal team to protect business continuity and skills availability while also ensuring cost-effective coverage and management. For more information, visit www.DefenseStorm.com.
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