Atlanta-based Cybersecurity Startup Bastille Closes $9M Series A
Staff Report From Metro Atlanta CEO
Thursday, August 6th, 2015
Bastille, the first cybersecurity company to detect and mitigate threats from the Internet of Things, today announced that it has closed a $9 million Series A. Bessemer Venture Partners led the round, which also includes participation from veteran cybersecurity entrepreneur Tom Noonan and Bastille founder and CEO Chris Rouland.
The funding will help bring the product to market for enterprise-scale deployments. BVP’s David Cowan, Noonan and Rouland all previously invested in Bastille’s $2.5 million seed round. Bastille has secured $11.5 million since the company was founded in April 2014.
"With the proliferation of IoT devices in offices, banks, stores, data centers, factories, hospitals, utilities and government facilities, the cyber epidemic has effectively mutated into an airborne pathogen," said David Cowan of Bessemer Venture Partners. "Fortunately, Bastille has assembled a unique combination of world class RF and cyber researchers to develop the first general purpose IoT security platform."
Bastille is the first company to detect and mitigate the rapidly emerging threats to the enterprise that are the unintended consequence of the IoT. Using a combination of next-generation sensors and software, Bastille enables the enterprise to detect, localize, and assess security risks by scanning the entire electromagnetic spectrum, gaining visibility into devices that operate on more than 100 distinct protocols. With Bastille, enterprise security teams can achieve greater situational awareness and more accurately quantify risk through comprehensive analytics of device emissions. Currently operating pilots with some of the world’s largest financial institutions and other verticals, Bastille anticipates general availability of the product in early 2016.
“The enterprise is on the cusp of a new era in which millions of insecure IoT devices will attempt to gain access to systems and networks yearly,” said Rouland, CEO of Bastille. “This proliferation of the IoT presents unprecedented physical and cyber risks that cannot be mitigated retroactively. Every enterprise must enact strong IoT security safeguards in order to adequately protect their companies from both intentional and inadvertent threats.”