Threat intelligence firm Apvera raises $1.7Mn from ACP and Spring Seeds Capital
Nov 16, 2016
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Singapore-based Apvera was founded to transform the way organizations detect, prevent and predict real-time behavioural threat anomalies. Given the ever-increasing scope and tenacity of targeted cyber-attacks on businesses, organizations, and governments, it is remodeling the security industry through the application of user and entity behavior analytics, bringing real-time endpoint profiling and anomaly detection leveraging advances in machine learning. It simply diverges from the widely-accepted concept that advanced threat protection alone will be an important aid against advanced threats. The Apvera Insight 360 platform adopts an internal and external view, with lateral movement modeling of endpoint activities; combined with threat intelligence derived from within an organization’s perimeter. It is a self-learning, multi-dimensional behavioral analytics platform which examines all user, endpoint, application and network activities, providing a comprehensive 360-degree view of the organization’s security condition. The startup in an announcement said it had secured $1.7 million to further develop and scale Apvera’s Insight 360 threat intelligence platform. The round was led by ACP and Spring Seeds Capital. It also witnessed participation of Asia-based Nest Ventures, muru-D of Singapore and existing investors, Central Exchange. As part of the financing, Surinder Kathpalia, Director of ACP will join Apvera’s Board of Directors. Apverva will work to accelerate its go-to-market and sales execution efforts thereby increasing the platform’s ability to detect, prevent and predict warning signs associated with potential endpoint behavioral security threats. Eric Meyer, CEO, Apvera, says,
Thanks to the support we have received from governmental organizations such as SPRING Singapore, Singapore is the perfect location for us to build our business and expand it to new clients – not just in ASEAN, but also globally. The firm is targeting various industries with a tailored use case approach, offering a range of innovative business solutions which help solve complex industry challenges. Eric added on to say,
For us, the next step is to deploy this capital in a structured way that will help us achieve a new level of global traction and scale. Financial services firms face a growing number of stringent industry and government regulations and these data protection and privacy mandates increase regulatory compliance costs and risks. Automating risks management and compliance programs is one way an organization can seek to improve its cyber-resilience. Sameer Narula, Managing Partner of ACP, said,
Apvera has built an impressive platform demonstrating that companies can no longer afford to take the same static path to detecting threats and just how eagerly the market is embracing this new approach.