Start-up Trinity Cyber secured a large round of funding, led by Intel Capital. The company’s technology proactively intercepts, and controls cyberattacks through “stealth interception of external threats”, according to a press release.
The technology is designed to complement existing cybersecurity measures. The $23 million is an impressive raise and shows the increased focus on cyberattacks, and the value of proven technology that can prevent them.
Wendell Brooks, Senior Vice President of Intel Corporation and President of Intel Capital explained, “As cyberattacks become more sophisticated, technology to counter them needs to stay one step ahead. As the threat landscape continues to grow, so does the opportunity to provide cutting edge technology to protect a company’s valuable data. We are excited about being part of Trinity Cyber’s innovative commitment to helping companies stay secure.”
Former Security Advisor and U.S. cybersecurity chief, Tom Bossert, commented on the growing importance of cyber attack prevention. “The trend in global cyber-attacks has been going in the wrong direction for some time, and American businesses are paying the price. It’s time we meet this problem with a truly preventive solution,” said Bossert. Bossert recently joined the management team of Trinity Cyber.
Trinity Cyber does not compete with traditional, reactive detection and remediation capabilities, but rather is additive. The technology operates outside of network perimeters to intercept cybersecurity attacks and claims faster speed and security for corporations. The product should work before the adversary even hits the network.
The company is still pending a patent, however, which did not stop the raise. In addition to Intel Capital, the company mentioned that a number of institutional investors were involved in the round.
Banks and other financial institutions will likely be one of the biggest categories for growth as the industry is particularly sensitive to preventing attacks before the attack disrupts the internal network with sensitive data of customers in play.
“This is an important day for Trinity Cyber,” said President & Co-founder Marie “Neill” Sciarrone. “We are effectively announcing our emergence from stealth mode, a strategic new leadership hire, and funding above the industry average for a Series A round. By offering a truly preventive solution to a topical and challenging problem, Trinity Cyber adds value to virtually every industry sector and is destined to set a new cybersecurity risk management standard.”
For Fintech companies, the round helps raise the bar in terms of series A round fundraising.