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Spikes Security Raises $11M in Series A

2014-10-22
LOS GATOS, CA, Isolation security company, today announced it has raised $11 million in Series A funding.
Spikes Security, the isolation security company, today announced it has raised $11 million in Series A funding, representing one of the largest rounds of Series A funding for a cyber security company in 2014. Lead investors include Lakewood & Company, LLC, Benhamou Global Ventures (BGV), and Javelin Venture Partners. The new funding will be used to accelerate continued development of the company's innovative malware isolation appliances, and to expand sales traction in several target market segments.

'These partners share our enthusiasm that this technology needs to exist in the world, and are able to provide the management and financial support necessary to take it all the way,' said Branden Spikes, founder and CEO of Spikes Security. 'Their experience and success working with technology start-ups, as well as their knowledge of key vertical markets, will help ensure that we maintain a clear strategy and effective execution in all phases of the business.'

Spikes Security's initial product offering is a browser isolation system called AirGap, which has already been deployed in more than a dozen enterprises to ensure that no browser-borne malware is able to penetrate the corporate network and infect end user devices. The system works by first deploying a specialized appliance outside the firewall, which contains a full browser and creates isolated VMs for each web session requested by users inside the network. Users launch an AirGap client viewer to request web content, just as they would by using a normal browser. The AirGap appliance actively and continuously transforms all requested web content into a virtual image and delivers it over a proprietary protocol to the client viewer. Any malware associated with the web content remains isolated outside the network.

'It's rare to find a company that has the opportunity to transform a multi-billion dollar market with technology that is truly innovative,' said Greg Corona, chairman of Lakewood & Company. 'Spikes Security is solving a critical security problem that has been plaguing businesses for far too long. We're excited to be partnering with the team to accelerate its path to success.'

'The potential market impact of Spikes Security's isolation technology cannot be overestimated,' said Eric Benhamou, founder and general partner of BGV. 'While other vendors have tried to make isolation work at the endpoint, the inherent complexity of that approach is problematic and creates a false sense of security. By deploying isolation at the gateway, Spikes Security provides customers with comprehensive security, deployment simplicity, and extended platform support.'

About Spikes Security

Spikes Security (Los Gatos, CA) was founded in 2012 by former PayPal and SpaceX CIO, Branden Spikes. The company is focused on eliminating the single biggest attack vector targeting enterprises today - browser-borne malware. Employee devices can be infected and businesses can be compromised by simply visiting infected websites, even legitimate sites. The AirGap solution from Spikes Security provides the only effective prevention from attacks through the browser while still providing a high quality user experience. AirGap is available for Windows, Mac OSX, and Linux in the current release. For more information, visit www.spikes.com.
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