Business Wire 14-Jan-2019 8:47 AM
Oversubscribed Second and Final Close Adds New Institutional Investors Kluz Ventures and SixThirty CYBER; former Zscaler CISO Michael Sutton Joins Board of Advisors
Syncurity, a market leader in Security Orchestration, Automation and Response (SOAR), today announced the second and final close of its two million 2018 institutional investment round. The round was initially led by the Maryland Technology Development Corporation (TEDCO) before closing oversubscribed with the addition of Kluz Ventures, through its fund The Next Impact, and SixThirty CYBER. In addition, the company has added former Zscaler (NASDAQ:ZS) CISO, Michael Sutton to its Board of Advisors, further enhancing Syncurity's depth of security, technology and cloud expertise.
Proceeds of the investment round will be used to extend Syncurity's award-winning IR-Flow platform, expand technical and channel partnerships and further accelerate the company's growth worldwide. These new investors bring a proven track record of success, depth of experience and global reach to guide the company during its next phase of expansion.
Syncurity IR-Flow is the only SOAR platform built by analysts for analysts that takes a "process-first" approach and allows security teams to streamline the entire incident management process — from proactive threat hunting and pre-conviction alert handling to post-conviction incident response. IR-Flow is not volume-priced, providing predictable, affordable costs. In addition to dramatically increasing analyst efficiency and reducing detection, investigation and response times, Syncurity IR-Flow's end-to-end case management capabilities provide enterprises with complete, real-time visibility into security operations, capturing all human and machine-based actions and simplifying reporting and compliance.
"Syncurity's patent-pending product architecture, analyst-driven interface and extensible system integrations were a natural choice for us to extend our cybersecurity portfolio into the fast-growing SOAR market," said Artur Kluz, Managing Partner of Kluz Ventures. "Syncurity's ability to automate and orchestrate real-world incident response processes is quickly gaining traction with global enterprises and MSSPs/MDRs," according to 630 Cyber General Partner, Jason Clarke.
"Based on my first-hand knowledge of the challenges facing enterprise CISOs in today's security landscape, I'm thrilled to work with the Syncurity team to address core enterprise SOAR requirements and shape the future of Security Response, while extending the boundaries of the space," commented Michael Sutton.
"These additional funds — along with the institutional firms behind them — as well as our strong Board of Advisors will enable Syncurity to extend the lead of our IR-Flow platform to new customers and partners around the world," said Syncurity CEO, John Jolly. "Our unique, visual, "process-first" approach and extensible case management capabilities are increasingly recognized as superior alternatives to first-generation, DIY automation tools that lack strong case management and auditing functionality."
Syncurity™ optimizes and integrates people, process and technology to realize better cybersecurity outcomes. Syncurity's award-winning and patent-pending IR-Flow® platform accelerates security operations teams by delivering an analyst-centric incident response platform. For more information, visit https://www.syncurity.net.
To learn more about how Syncurity's customers are leveraging the IR-Flow platform, please visit https://www.syncurity.net/resource-center/case-studies/
TEDCO provides resources and connections that early-stage technology and life sciences companies need to thrive in Maryland. TEDCO's mission is to discover, invest in, and help build great Maryland-based companies. Learn more at www.tedco.md
About Kluz Ventures
Kluz Ventures is a private investment firm passionate about new technologies, investing through a family of sector-specific funds in industries that will revolutionize our world and drive future growth. Our The Next Impact fund is focused on breakthrough and transformative technologies, including artificial intelligence, blockchain, FinTech, and cybersecurity. Learn more at www.kluzventures.com
About SixThirty CYBER
SixThirty CYBER is a global Cyber Security venture capital fund and go-to-market program. Their mission is to identify and invest in the most promising and innovative ideas in Cyber Security from across the globe, and work with like-minded corporate partners to mentor and drive growth through their network of CISO's and corporate security leaders. Learn more at https://sixthirtycyber.com
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