MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Stealth Security Inc., a cybersecurity startup, announced today that it has raised an $8-million Series A round led by Shasta Ventures. Created and managed by a team of former PayPal, Cisco and Symantec senior executives, Stealth Security will use the $8-million funding round to address the growing challenge of detecting and mitigating today’s increasingly sophisticated bots, which current defense solutions fail to address.
“Humans don’t account for most of the activity online—bots do,” said Stealth CEO and co-Founder Ameya Talwalkar. “Businesses are seeing more and more transactions from legitimate automated traffic, like IoT devices, search engines, aggregators and B-to-B integrations. In real-time, Stealth Security can differentiate between malicious bot activity and legitimate users and bots, as well as deceptively mitigate in response. It’s our unique advantage.”
The increased frequency, sophistication and cost of automated attacks have created a growing market for better security tools. CSOs and CIOs are particularly concerned about damage from automated bots and scrapers, and they’re willing to invest more to fix the problem. Gartner reports that bot management and API threat protection spaces are individually only 5 to 20 percent penetrated. This trend, combined with Stealth Security’s uniquely effective and easy-to-deploy platform, places Stealth in a strong position to dominate this growing space.
“Unlike the industry’s reliance on device fingerprinting through client-side code injection, Stealth uses a combination of machine learning and network security,” said Stealth CTO and co-Founder Shreyans Mehta. “Our customers love having a single, modular platform that is easy to deploy and capable of protecting all of their sensitive web, mobile and API endpoints.”
“By protecting more than 100 million consumer accounts from automated bot attacks, Stealth gives Fortune 100 companies broad real-time security coverage across web, mobile and IoT,” said Nitin Chopra, Partner at Shasta Ventures. “We’re thrilled to partner with Stealth Security and give organizations the protection they need today - a next generation bot detection and mitigation solution to stop automated threats.”
About Stealth Security
Using real-time network analysis, machine learning, threat intelligence and behavioral analytics Stealth Security accurately detects and mitigates bot attacks without affecting legitimate user traffic. Unlike other options Stealth’s products are designed to be modularly deployable into an existing security stack. Protecting over 100 million accounts at Fortune 100 companies today, Stealth Security is headquartered in Silicon Valley and backed by Shasta Ventures, along with a host of other prominent investors.