WOODLANDS, Texas--(BUSINESS WIRE)--Prevailion, a global leader in cyber adversary intelligence, today announced a strategic investment round led by Allstate Strategic Ventures and joined by Accenture Ventures and Irongrey (SeAH) as an oversubscribed expansion to Prevailion’s initial Series A in order to accelerate the company’s growth while bringing a unique and game-changing solution to help security teams. The new investment follows a $10 million Series A led by AllegisCyber Capital, a $2 million seed round by DataTribe and a previous strategic investment by Legion Capital.
The funding will fuel Prevailion’s further disruption of intelligence and threat detection programs through its unique “Evidence of Compromise” (EoC) solution, which detects cyber compromises within seconds of malware first landing on a network. This early warning detection capability empowers organizations to stop attacks in their infancy before malware can progress to a more significant stage, such as data exfiltration, ransomware encryption, lateral infection spread and secondary malware deployment. It also provides a critical new capability for monitoring emerging threats in corporate and government supply chains.
“Prevailion was created to solve a fundamental problem facing security teams, which is the lack of true innovation in identifying active compromises significantly earlier in the attack chain, both within an organization’s networks and the networks of its supply chain partners,” said Karim Hijazi, founder and CEO of Prevailion. “Recent compromises, such as SolarWinds, as well as other key service providers, demonstrate the escalating threat environment for all organizations and the growing risk of exploitation through trusted relationships by sophisticated threat actors. Prevailion provides the only solutions that focus on confirmed Evidence of Compromise (EoC) to let companies know the second that a threat actor or group has begun their attack campaign.”
Prevailion’s sophisticated approach is a combination of a highly specialized Adversarial Counterintelligence Tactics (ACT) team, which stalks adversaries and then implements a unique global sensor network and specialized software to eavesdrop on threat actor infrastructure. This unique cyber intelligence capability uncovers previously undetected compromise information on thousands of corporate, supply chain and government systems, and provides around-the-clock intelligence on new compromises, escalating breach activity and changes in business remediation efforts. The company’s groundbreaking approach led to its selection as a Gartner “Cool Vendor” in the 2020 Cool Vendors in Security Operations and Threat Intelligence report.
Prevailion is currently tracking over 28,000 compromised organizations globally, ranging from publicly traded companies and their supply chain partners to governments, hospitals, universities, NGOs and more. Many of the cyber compromises Prevailion has observed are undetected or unreported by the victim organizations.
“Cybersecurity risks are growing dramatically in terms of number and sophistication,” said Tarik Galijasevic, managing director of Allstate Strategic Ventures. “Allstate is committed to a circle of protection for consumers, and the investment in and strategic partnership with Prevailion is a continuation of that commitment against new and emerging threats to information security.”
“Being able to operate at the speed of the threat is absolutely critical if you’re going to have any chance at fending off advanced cyber adversaries,” said Josh Ray, who leads Accenture Security’s cyber defense practice globally. “Our continued investment in innovative capabilities signals both our belief in the Prevailion solutions and the need for organizations to adopt an intelligence led cybersecurity approach. With Prevailion’s capabilities, we are supporting our clients with high confidence intelligence that significantly enhances the pace at which they can react to potential cyber threats in the enterprise and broader supply chains.”
“As one of Prevailion’s early investors, we are excited to see the company’s continued disruption of the cybersecurity industry with unique technology that brings a brand-new set of actionable security intelligence to empower security and compliance teams,” said Bob Ackerman, founder and managing director of AllegisCyber Capital, and co-founder of DataTribe. “The proliferation of ransomware and supply chain attacks calls for a drastically different approach that can accelerate compromise detection and enable security teams to take immediate action to thwart these threat actor campaigns in the early stages. Prevailion’s unique counterintelligence capabilities identify these campaigns at the source and at the actual time of compromise with a zero-touch model that significantly improves security operations and helps prevent a successful attack.”
Investing in the Future of Adversary Counterintelligence to Deliver Evidence of Compromise:
With its strategic round now fully closed, Prevailion is further expanding its usability, reporting and partner ecosystem by the end of 2021. Prevailion is also boosting marketing and sales to meet global product and customer demand.
Prevailion is the world’s first cyber security counterintelligence company, transforming the way organizations approach compromise detection and breach prevention to drastically improve security operations. Through next-level tailored intelligence and a zero-touch platform, Prevailion provides a full view of confirmed “Evidence of Compromise'' (EOC) for customers and their partner ecosystems. Prevailion is funded by AllegisCyber Capital, DataTribe, Allstate Strategic Ventures, Legion Capital, Irongrey and Accenture Ventures. To learn more about Prevailion, visit www.prevailion.com.