Airgap Networks Announces $13.4M Series A Funding to Deliver an Industry-First Ransomware Kill Switch™
Pent-up demand for a credible ransomware protection solution has driven Airgap's exponential growth over the last 9 months
SANTA CLARA, Calif., April 5, 2022 /PRNewswire-PRWeb/ -- Airgap Networks, today announced the closing of a $13.4M Series A funding round. Storm Ventures led with support from all existing investors, including Cervin Ventures, Engineering Capital, and Sorenson Ventures. In addition, individual investors Manoj Apte, Josh Leslie, Anuj Kapur, and Robert Tinker also participated. To date, Airgap has raised a total of $18.6M.
"Pent-up demand for a credible ransomware protection solution has driven Airgap's exponential growth over the last 9 months," said Ritesh Agrawal, Chief Executive Officer at Airgap. Recent wins include Fortune 500 enterprises in manufacturing, healthcare and pharma, insurance, and public sector agencies. Cyberattacks have repeatedly exploited lateral movement to inflict destructive harm and exfiltrate data.
The ability for a bad actor to easily navigate an organization's network is a fundamental flaw that remains unaddressed by existing vendors. Solutions today offer piecemeal protection for endpoints that need to be retrofitted with agents, require APIs across mission-critical infrastructure, or entail a complete overhaul of enterprise networking assets. Airgap has created the world's first frictionless, agentless, universal segmentation solution optimized for IT, OT, and Cloud deployments while maximizing the value of existing infrastructure.
A single pane of glass for visibility and management guarantees lower operating expense, improved agility, and the ability for NetOps and SecOps staff to focus on more value-added support for lines of business. Airgap's Zero Trust Segmentation Platform™ has been developed over the last three years by an all-star team of security and networking experts. The patented solution can be deployed within minutes providing customers immediate benefit and creating a roadmap for a comprehensive Zero Trust defense architecture.
Ransomware breaches are an inevitable reality in today's environment. The classic approach of shutting down networking infrastructure to protect critical assets has a material impact, made more acute in the current supply-constrained environment. In contrast, Airgap's patented Ransomware Kill Switch™ is a surgical incident response to ransomware attacks and stops the spread of ransomware without loss of business productivity.
"We are thrilled to lead Airgap's Series A investment round as it blazes the trail for innovation in mitigating cybercrime and quickly takes the necessary action to stop nefarious actors," said Arun Penmetsa, Partner at Storm Ventures.
"We are delighted to continue investing in Airgap, said Shirish Sathaye, General Partner at Cervin Ventures. "We were one of the first firms to invest, and we are excited to watch their growth as they build out new products that mitigate ransomware attacks in innovative ways."
Media Contact
Cynthia Hsieh, Airgap Networks, 1 650 644 9421, [email protected]
SOURCE Airgap Networks
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