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EDB arm invests in US cyber security firm
IN a boost to Singapore's efforts to become a cyber-security hub, EDBI, the Singapore Economic Development Board's (EDB) investment arm, has teamed up with a number of investors to put in US$15 million Series C funding for US security company CounterTack, which has developed a unique technology to use big data to detect threat patterns and anticipate cyber attacks. With this investment, EDBI plans to help the company expand in Singapore and Asia.
The Series C funding is led by TenEleven Ventures, with new investors including EDBI and Mitsui. These three join CounterTack's current investors including Goldman Sachs, Fairhaven Capital, Siemens Venture Partners, Razor's Edge, OnPoint Technologies (investment fund of US Army) and Alcatel-Lucent.
CounterTack's Sentinel platform aims to deliver visibility and context around the behaviour of devices that connect to the network, such as laptops, servers and mobile devices. This, says the company, gives security teams a comprehensive approach to endpoint detection and response (EDR) to targeted, persistent cyber threats.