FREMONT, Calif. and SINGAPORE, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Attivo Networks®, the leader in deception solutions for cybersecurity defense, today announced a strategic investment by Singtel Innov8. The funding will be used to accelerate expansion into Asia Pacific markets with increased investment in sales, marketing and customer support operations in support of growing global deception technology customer base. Singtel Innov8 joins current investors Bain Capital Ventures, Omidyar Technology Ventures and Trident Capital Cybersecurity, who have collectively provided $47.5 million in funding to Attivo Networks.
"Singtel Innov8’s investment opens up new market opportunities for Attivo Networks and aligns the company for aggressive international growth," said Tushar Kothari, CEO, Attivo Networks. “There is clear pent-up demand in the Asia Pacific region and worldwide for advanced threat detection and response solutions by organizations requiring a new model for cyber resilience. This funding and access to Asia Pacific Markets will be instrumental in further expanding the Attivo Networks customer base and in supporting the needs of global customers.”
“Attivo has demonstrated technology leadership in the emerging deception space with a sophisticated platform and marquee customers,” said Punit Chiniwalla, Senior Director, Singtel Innov8. “We're excited about the opportunity to support Attivo Networks and their incredible team as they expand on their successes globally.”
Deception-based detection technology adoption has grown exponentially in 2017 based on its efficiency in detecting threats that have evaded prevention security controls and for its unique ability to change the asymmetry on attackers. Taking a page out of military operations, Attivo applies deception-based decoy and attacker luring technologies within the network to deceive and misdirect attackers into revealing themselves. Using dynamic adaptive deceptions, the Attivo ThreatDefend™ Platform creates a virtual hall of mirrors for attackers, imposing increased cost and attack complexity as a threat actor is forced to decipher what is real and what is fake. It is a rare opportunity to exploit the trust that attackers have, slow their attack, and turn the tide against them.
This latest infusion of funding will build upon Attivo Networks' unprecedented levels of company growth, technology innovation, and industry recognition.
- The company has increased revenues by more than 300 percent year over year, accumulated an impressive list of Fortune 50 customers, and is currently engaged with over 350 organizations in evaluation and trials of its deception and response technology.
- In 2017 alone Attivo Networks received 26 industry awards based on its technology innovation.
- The company has received positive research and review coverage from many leading technology analyst firms, including Gartner Inc. (Cool Vendor 2016), 451 Research, Frost and Sullivan, TAG Cyber, Ovum, and Information Security Group (ISG) and from SC Magazine, First Look Report.
About Singtel Innov8
Singtel Innov8, the venture capital arm of the Singtel Group, invests in and partners with innovative tech start-ups worldwide. It has a fund size of US$250 million and its own set of decision making, approval and funding processes. Beyond funding, Singtel Innov8 is a gateway for start-ups to tap on the resources and expertise of the Singtel Group, while enabling the Group to gain access to emerging technologies. Singtel Innov8 focuses its investments on technologies and solutions that can lead to quantum changes in network capabilities, next generation devices, digital services and enablers to enhance customer experience. Headquartered in Singapore, Singtel Innov8 also has offices in San Francisco and Tel Aviv.
About Attivo Networks
Attivo Networks® is the leader in deception technology for real-time detection, analysis, and accelerated response to advanced, credential, insider, and ransomware cyber-attacks. The Attivo ThreatDefend™ Deception and Response Platform accurately detects advanced in-network threats and provides scalable continuous threat management for user networks, data centers, cloud, IoT, ICS-SCADA, and POS environments. Attivo Camouflage dynamic deception techniques and decoys set high-interaction traps to efficiently lure attackers into revealing themselves. Advanced attack analysis and lateral movement tracking are auto-correlated for evidence-based alerts, forensic reporting, and automatic blocking and quarantine of attacks. For more information, visit www.attivonetworks.com.
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CONTACT:
Christina Adams
Attivo Networks
510.623.1000
christina@attivonetworks.com
Pete Johnson/Tim Hurley
Matter Communications for Attivo Networks
pjohnson@matternow.com
971-245-3117
thurley@matternow.com
978-518-4513