CounterTack, which tracks cyberthreats, has raised $3 million from the Venture Capital unit of Siemens Financial Services, closing out the company’s Series B round of funding.
Siemens joins Goldman Sachs, Fairhaven Capital, and a group of private investors on the $15 million Series B, which was initially announced as a $12 million round in October. Fairhaven was also involved in CounterTack’s $9.5 million Series A in 2011.
CounterTack has been gaining a lot of traction recently and claimed a surge in global customer demand for its endpoint threat detection and response platform, Sentinel.
What separates CounterTack’s security offerings from other companies in the cyber threat space is that they don’t attempt to prevent attacks but instead track and analyze malicious activity in operating systems before “shutting them down.”
CounterTack has deep connections with MIT as well as the US intelligence community. William Fallon, the former Commander of the US Central Command, joined the company as an advisor after meeting the founding team at MIT.
Last year, CounterTack announced a partnership with South Korea’s SK Infosec, one of the largest information security providers in a country that is under constant cyber attack threat. SK Infosec leverages the Sentinel monitoring platform to counter “known and unknown” cyber threats.
The company plans on using the new funding to accelerate its technology expansion and to continue to gain global recognition for its endpoint protection solutions.
In the press release announcing the new funding, Ralf Schnell, the chief executive of Siemens Financial Services’ VC unit, said, “CounterTack is delivering an enormously valuable technology to enterprise and industrial customers in the important endpoint threat detection and response market.”
“As the threat landscape continues to grow more dangerous,” Schnell added, “innovation from emerging technology leaders like CounterTack is changing the way organizations think and act about security in the enterprise.”
In the press release, CounterTack’s Neal Creighton also explained the benefit Siemens joining the funding team.
“As this market continues to grow,” Creighton said, “we’re thrilled at our capability to attract strategic investors like Siemens, who is dedicated to identifying and financing young companies globally, during their start-up phase, providing capital for their expansion.”