First Cybersecurity Company for the Internet of Things, Bastille, Closes $9 Million Series A
Atlanta, GA (PRWEB) August 05, 2015 -- Bastille, the first cybersecurity company to detect and mitigate threats from the Internet of Things (IoT), today announced that it has closed a $9 million Series A. Bessemer Venture Partners (BVP) led the round, which also includes participation from veteran cybersecurity entrepreneur Tom Noonan and Bastille founder and CEO Chris Rouland.
The funding will help bring the product to market for enterprise-scale deployments. BVP’s David Cowan, Noonan and Rouland all previously invested in Bastille’s $2.5 million seed round. Bastille has secured $11.5 million since the company was founded in April 2014.
"With the proliferation of IoT devices in offices, banks, stores, data centers, factories, hospitals, utilities and government facilities, the cyber epidemic has effectively mutated into an airborne pathogen," said David Cowan of Bessemer Venture Partners. "Fortunately, Bastille has assembled a unique combination of world class RF and cyber researchers to develop the first general purpose IoT security platform."
Bastille is the first company to detect and mitigate the rapidly emerging threats to the enterprise that are the unintended consequence of the IoT. Using a combination of next-generation sensors and software, Bastille enables the enterprise to detect, localize, and assess security risks by scanning the entire electromagnetic spectrum, gaining visibility into devices that operate on more than 100 distinct protocols. With Bastille, enterprise security teams can achieve greater situational awareness and more accurately quantify risk through comprehensive analytics of device emissions. Currently operating pilots with some of the world’s largest financial institutions and other verticals, Bastille anticipates general availability of the product in early 2016.
“The enterprise is on the cusp of a new era in which millions of insecure IoT devices will attempt to gain access to systems and networks yearly,” said Rouland, CEO of Bastille. “This proliferation of the IoT presents unprecedented physical and cyber risks that cannot be mitigated retroactively. Every enterprise must enact strong IoT security safeguards in order to adequately protect their companies from both intentional and inadvertent threats.”
In its first year of existence, Bastille was named a Mobile World Congress IoT All-Star finalist, one of Sand Hill’s IoT 50 Needle Movers, and one of Georgia’s Top 10 Most Innovative Companies of 2015.
For more information on Bastille, visit http://www.bastille.io and follow them on Twitter @bastillenet.
About Bastille
Based in Atlanta and launched in 2014, Bastille is pioneering Internet of Things (IoT) security with next-generation security sensors and airborne emission detection, allowing corporations to accurately quantify risk and mitigate 21st century airborne threats. Through its proprietary technology, Bastille helps enterprise organizations protect cyber and human assets while providing unprecedented visibility of IoT devices that could pose a threat to network infrastructure. Currently in pilot testing, Bastille expects general availability in 2016. For more information, visit http://www.bastille.io and follow @BastilleNet on Twitter.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) invests in early-stage and hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, San Francisco, Cambridge, New York, Bangalore and Herzliya. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like Pinterest, Twilio, Box, LinkedIn, Shopify, Yelp, Skype and CornerstoneOnDemand. Over 100 BVP companies have gone public – in the last three years alone, BVP has had 46 exits (IPO and M&A) and made new investments in more than 85 companies. Learn more at http://www.bvp.com and follow Bessemer on Twitter @BessemerVP
Having funded more than 30 cybersecurity startups, Bessemer continues to actively invest in cybersecurity. For more details see bvp.com/cyber
Caroline Cassidy, AR|PR, http://www.arpr.co, +1 (855) 300-8209, [email protected]
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