Fortscale Security Raises $6M
SAN FRANCISCO, CA, Fortscale Security, a provider of user behavior analytics for enterprise security, has raised $6 million in new VC funding from CME Ventures and UST Global.
Fortscale Security today announced that two new strategic partners, CME Ventures and UST Global, have elected to provide incremental funding. To date, Fortscale has now raised $16 Million in total funding. The financing will be used to implement sales and marketing campaigns that seek to build on the tremendous momentum the company has generated in the market. This action comes on the heels of the successful launch of Fortscale 2.0, the latest upgrade of the company's award-winning solution that provides organizations the unparalleled ability to target and eliminate insider threats.
'Fortscale is fortunate to have the backing of a world-class group of strategic investors,' said Idan Tendler, CEO & Co-Founder of Fortscale. 'While we have been approached by a number of organizations to invest in Fortscale, we ultimately chose to partner with CME Ventures and UST Global because of the assistance they can provide us with building a successful business. This endorsement from the investment community will only continue to propel the company forward as we head into 2016.'
Fortscale has reached a number of critical milestones in 2015. After recruiting and building a successful marketing team and sales organization, the company has doubled its revenue over the last year and strengthened its pipeline of new business. Additionally, the company launched Fortscale 2.0, its market-leading solution that provides unparalleled visibility and user intelligence, giving security teams the critical information they need to rapidly detect and eliminate insider threats.
CME Ventures is the strategic investment arm of CME Group, the world's leading and most diverse derivatives marketplace. CME Ventures makes minority stake investments in early-stage technology companies that could impact the financial ecosystem of the future.
UST Global is a leading provider of end-to-end digital solutions and IT services and solutions for Global 1000 companies, delivering pragmatic IT solutions that allow clients to consistently achieve their most critical business objectives.
'Organizations of all sizes continue to fall victim to malicious insider attacks, spotlighting a gap that exists in current enterprise security solution offerings to prevent these events from occurring,' said Saurabh Suri, VP of Emerging Solutions, UST Global. 'Fortscale 2.0 has emerged as the premier solution to address this gap and combat these constant and damaging insider attacks through an innovative - if not outright revolutionary -approach to cybersecurity through user behavior analytics.'
For more information, visit www.fortscale.com.
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Fortscale turns the tables on insider threats by delivering the industry's most precise, scalable and extendible user behavior analytics solution. Enterprises face a growing threat from malicious employees and external hackers that have access to hijacked and compromised legitimate user credentials, which they use to carry out cyber-attacks and massive data breaches. These sophisticated attacks occurring from within the network have been difficult for security analysts to detect using traditional security measures. However, Fortscale offers a proven user behavior analytics solution that can identify and eliminate these insider threats. With unrivaled machine learning, superior analytics capabilities and context-based alerting, Fortscale empowers analysts and security teams to act with unmatched user intelligence and easy-to-use investigation tools so they can quickly identify malicious activity and respond to threats. For more information, visit www.fortscale.com.
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