Virsec raises $100m in Series C

Dave Furneaux, chief executive officer of Virsec. — Supplied photo
Dave Furneaux, chief executive officer of Virsec. — Supplied photo

Dubai - Company’s approach to fully protect software workloads in runtime attracts more than 70 investors and advisors from public sector.



by

A Staff Reporter

Published: Thu 15 Jul 2021, 3:32 PM

Virsec, the first cybersecurity company to fully protect software as it is executing, today announced a $100 million Series C investment from an unmatched community of industry players and company builders.

The completion of the round brings total funding in the company to $137 million. With focus and urgency from the White House as well as private sector leaders to aggressively expand cybersecurity advancement and collaboration for the purposes of national and economic defense, Virsec has assembled a pool of expertise and resources to greatly expand its team, and power an acceleration of its groundbreaking innovations.

Virsec Security Platform (VSP) stops sophisticated attacks at the first point of insurgence, so an adversary does not have the dwell time in software to orchestrate and execute their malicious plans. VSP is the only solution that can truly eradicate threats to the software workload at runtime, in real-time, while reducing the cost of security operations.

“The world runs on software, and with the onslaught of damaging attacks to it, the world is also in a cyber crisis. That is why Virsec developed an unprecedented, radical, and multi-patented approach to fully protect software while it is executing, regardless of its environment,” said Dave Furneaux, chief executive officer of Virsec. “We are able to provide our customers a ‘golden image’ of their software, bugs and all, and therefore we instantaneously detect and stop attacks before they happen. This is the type of game-changing technology that the market immediately needs. We are extraordinarily grateful for the community of investors, advisors, and security practitioners that have assembled around the company to help us achieve our mission.”

Virsec’s Series C investors range from the former Chairman and CEO of Cisco, John Chambers, to the former Chairman and CEO of EMC, Mike Ruettgers, to a number of former high-ranking government and intelligence officials. Led by BlueIO, the round also includes Allen & Company LLC, Arena Holdings, Intuitive Venture Partners, JC2 Ventures, Artiman Ventures, Quantum Valley Investments, and Marker Hill Capital.

Mike Ruettgers, Former CEO & Chairman of EMC, said: “Clearly, cyber security products are not working well enough. Judging by the response from leading edge enterprises, Virsec is a game-changing business with a completely differentiated protection first approach to solving the cybersecurity crisis. Virsec stands alone amidst a sea of similar security companies.”

With more than 50 patents, Virsec provides the first and only application-aware workload protection platform that incorporates System Integrity Assurance, Application Control and Memory Protection into a single solution. Virsec delivers in-depth visibility across the entire workload and detects, and blocks known and unknown threats that remain concealed by heuristic and endpoint security solutions.

John Chambers, CEO of JC2 Ventures, Former CEO & Chairman of Cisco, said: “Traditional and legacy security solutions are simply not enough to protect organisations from the extremely advanced attacks we are seeing today. This is why I decided to invest in Virsec. We are at an inflection point in cybersecurity and Virsec does what is needed: fully protect application workloads at runtime before an attacker can even make a move.”

The Virsec solution maps the expected performance of each application on a workload and protects the memory those applications use to execute. Virsec ensures that the components of those applications are correct and unmodified before they are allowed to execute, and any deviation from the norm is treated as a threat.

Jim Routh, Former CISO of MassMutual, AETNA, & J.P. Morgan, said: “The future of cybersecurity resilience for all enterprises includes fully protecting software. Virsec has the capability to fully protect software in the workload in an automated and enterprise-friendly way. Their runtime, high-performance protection technology is well thought-out from a deployment and operational perspective. Virsec is leading this emerging workload protection market with technology to alert and fully protect software in real time.” — sandhya@khaleejtimes.com


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