Security & Fraud

Cyberthreat Analysis Startup Raises $8M

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Hexadite, a cybersecurity firm that specializes in orchestration and automation, announced it closed a $8 million Series A funding round Wednesday (Feb. 10). The seed round included participation from Hewlett Packard Ventures, Ten Eleven Ventures and YL Ventures.

The company said the new capital will be used to boost its research and development efforts, while also expanding its marketing and sales initiatives globally. Hexadite also confirmed plans to continue the momentum of its security solution, Hexadite AIRS, which fully automates the incident response procedures for cybersecurity threats.

“When we saw what Hexadite accomplished in such a short amount of time, we wanted to be a part of it,” Lak Ananth, managing director of Hewlett Packard Ventures, explained in a press release. “The ability to automate cyberalert investigations and shut down attacks in seconds gives customers a chance to defend themselves in a way that has never been possible. We’re excited to partner with Hexadite and help bring their innovations to market.”

“Enterprises are desperate to close the gap between security event detection and resolution,” Mark Hatfield, cofounder and general partner at Ten Eleven Ventures, added. “We were very impressed with the maturity of Hexadite’s solution; they are the only company we’ve seen that truly understands how to fully automate the end-to-end incident response lifecycle. Hexadite’s ability to add intelligent automation and orchestration to resolve security events is a great leap forward that addresses a vital need for customers.”

Hexadite brought its solution to market in just 18 months and with $2.5 million in seed funding, the company said, adding that the solution currently protects 500,000 devices for customers across various industries.

“Our solution can handle all the variables involved in today’s cyberthreats to give customers the ability to investigate, respond and resolve an ever-increasing volume of incidents in minutes and even seconds,” said Eran Barak, CEO and cofounder of Hexadite. “This round will enable us to further develop our innovative technology and bring it to more customers in additional markets to start turning the tables on today’s cyberthreats.”

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