Israeli behavior analytics company Fortscale Security Ltd. has raised $7 million in its latest financing round led by Evolution Equity Partners and Valor Capital Group. The round also included investments from previous investors Intel Capital, Blumberg Capital, Swarth, CME ventures and UST Global. This latest investment round brings Fortscale’s funding total to $23 million and coincides with the release of the company’s newest offering: Presidio™, the industry’s first embedded UEBA engine.
With offices in San Francisco, Boston and Tel Aviv, Fortscale has developed machine learning-based user and entity behavior analytics (UEBA) for security. The company was founded by CEO Idan Tendler and COO Dr. Yona Hollander.
The funding will be used in multiple capacities, as Fortscale enters its next phase of growth. The company plans to focus on new global business expansion, specifically targeting the European and Latin American markets, while also expanding its research and development operations and team located in Israel. Additionally, the funding will contribute to the ongoing development of Fortscale’s evolving product line.
Tendler said, “2017 is shaping up to be a momentous year for Fortscale with the release of Presidio and the continued expansion of our global business operations. We are proud and grateful to have the support of the investment community who understand the importance of our ongoing mission to stop insider threats faster and more effectively than ever before.”
“Fortscale is a globally recognized innovator in UEBA that is leading the ongoing fight against insider threats,” said Richard Seewald, founder and general partner, Evolution Equity Partners. “We look forward to working with Fortscale on their international expansion and helping them establish partnerships that will fuel their continuing growth."
The weakest link to any network are humans and for this reason organizations are increasingly turning to Fortscale’s best-in-class UEBA solution to protect their assets, customers and reputations,” said Scott Sobel, Co-founder and Managing Partner, Valor Capital Group. “We are thrilled to join Fortscale on their journey by supporting their international expansion and helping to evolve it's new Presidio ecosystem."
Published by Globes [online], Israel business news - www.globes-online.com - on February 28, 2017
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