Banking cybersecurity and cyber-compliance services provider DefenseStorm has raised $15m in a Series A financing round.
The financing round was led by Georgian Partners. As a part of the deal, Georgian Partners managing partner Justin LaFayette will join the DefenseStorm board of directors.
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DefenseStorm plans to utilise the funding to support its growth and expand its team.
The company will also collaborate with venture capital firm’s Georgian Impact team to support the adoption of applied artificial intelligence and trust.
Leveraging Georgian Impact’s expertise, the company aims to further develop its cybersecurity and cybercompliance capabilities of its offerings.
DefenseStorm product portfolio includes GRID solution. It is a co-managed, cloud-based compliance-automated solution operating as a technology system and as a service for the financial institutions.
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By GlobalDataThe solution monitors everything across the bank or credit union’s network and matches it to defined policies to ensure cyber security.
The cybersecurity start-up also has a Threat Ready Active Compliance (TRAC) team to support the bank’s internal group and safeguard business continuity as well as ensure cost-effective coverage and management services offerings.
DefenseStorm CEO Harold Brewer said: “DefenseStorm is growing rapidly, and our primary goal is not only to ensure that we take care of both our current and potential customers, but also that we invest in our employees and the innovation they continue to bring to the table.
“We are thrilled to have the support of the Georgian Impact team and look forward to a lasting partnership benefitting the entire cybersecurity community.”
Georgian Partners chief technology officer and partner Mads Mihailescu said: “The combination of DefenseStorm’s deep domain expertise, and our own expertise in trust and artificial intelligence, has already identified a number of opportunities to further accelerate new product capabilities.”
