SlashNext Announces $9M in Series A Funding to Transform Cyber Security

SlashNext, the leader in advanced protection against socially engineered attacks, malware, exploits and data theft, today announced the closing of $9 million in Series A funding led by Norwest Venture Partners and Wing Venture Capital. Both Promod Haque of Norwest Venture Partners and Gaurav Garg of Wing Venture Capital will join the board of directors as a part of the new round. This investment brings the company’s total funding to date to over $10 million.

“SlashNext is focused on detecting and blocking threats across a broad spectrum, which is the most important characteristic of a cyber security product,” said Promod Haque, senior managing partner at Norwest Venture Partners. “With some estimating the worldwide spending on cybersecurity to top $1 trillion in the next five years, the SlashNext team is well-positioned with their deep expertise in the market to build solutions that will combat the dramatic rise in cybercrime.”

The company is keenly focused on ease-of-use and a simplified, organized presentation of the most important data. By providing only the critical information necessary to understand the immediacy of a threat and what must be done to mitigate it, the SlashNext Active Cyber Defense System enables IT and security teams to respond to what’s really important.

“The SlashNext product has the unique ability to not only stop the most advanced malware, but also socially engineered attacks that spread through social media, email and messaging apps, all without the need for end point agents,” said Atif Mushtaq, CEO and founder of SlashNext. “Some of the most significant breaches in modern times have started through hard to detect social engineering attacks. Just think about the latest DNC hack where Russian threat actors compromised John Podesta’s email account by simply providing a phishing link to a fake Gmail login page. ”

“The threat landscape has evolved to the point where products engineered more than a decade ago are failing,” said Gaurav Garg, founding partner of Wing Venture Capital. “SlashNext’s powerful and easy-to-deploy software is far more effective than existing solutions, detecting a significant number of intrusions that they miss.”

SlashNext’s user interface is simple, elegant and easy to use, but behind the scenes, SlashNext implements a cloud-based “Progressive Learning” machine specifically designed to tackle today’s broad range of web-based cyber-attacks. Unlike other products that use off-the-shelf machine learning algorithms, or older signature and sandbox based technologies that only focus on files, SlashNext’s progressive learning is able to precisely identify not only file-based threats, but also non-file based threats such as data theft and socially engineered attacks as well.

Because of its network-based approach, the SlashNext Active Cyber Defense System protects all network devices including all versions of Window, OSX, Linux, iOS devices, IoT devices, smart TVs, printers, medical devices and SCADA systems. Additionally, since the system does not rely solely on intercepting and examining payloads, it is equally effective when monitoring encrypted traffic — there is no need to decrypt and then re-encrypt traffic. With no software required on end points and zero policy configuration, system deployment takes about 20 minutes — even in very large networks.

The system is in full production and has been adopted by a significant list of leading edge customers. It is available for a single cost-effective annual or 3-year subscription that includes all hardware and support costs.

Source:http://finance.yahoo.com/news/slashnext-announces-9m-series-funding-113000620.html