San Jose, California-based closed a $100 million Series C as companies continue to look for ways to secure their software amidst an increasing amount of cyber hacks.
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The new round was led by , and also included participation from , , , , , and . Founded in 2015, the company has now raised a total of�� $137 million.
The company���s platform aims to stop attacks on software in real-time ��� eliminating the time a threat can corrupt a workload while also reducing the cost of security operations. CEO said huge attacks like the incident has shown there is a need for real-time software security that does not rely on just pattern recognition or artificial intelligence.
���There���s been enough breaches happening that people clearly realize we need a new approach to protecting software,��� Furneaux said.
Different approach
While some companies such as and use AI to detect and respond to attacks, Virsec integrates into a company’s software and defends it against real-time attacks.
Since the company does not rely on AI and pattern recognition, it can defend against new ���zero-day��� attacks that have not been seen before.
���For AI to work there must be a pattern, but for a pattern to develop you have to have seen it before��� said , a partner at Artiman Ventures. ���Virsec provides protection. Other companies are providing analytics, visibility and other things.���
While Virsec does not offer financial details, Furneaux said the 160-person company has between 50 and 100 customers, and will focus its go-to-market efforts on securing more Fortune 500 contracts, as well as government contacts for both the U.S. and its allies.
Virsec���s platform came to market in late 2019, but Furneaux said he felt the timing was right to ramp up its global team and increase the market���s awareness of the company.
���I think our market is just developing,��� he said. ���I don���t think our market has revealed itself yet.���
Mundkur added the market is huge for protecting software, as every company is a software company now.
���They say software is eating the world,��� he said. ���Well, hackers are eating the software.���
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