Lastline, a service that offers a range of solutions for protecting businesses from malware, just announced that it has raised a $10 million funding round led by Redpoint Ventures and e.ventures. The service, which provides organizations with a way to protect themselves from “persistent threats (APTs),targeted attacks and zero-day threats in real time,” was founded in 2012 by a team of computer science professors from the University of California, Santa Barbara and Northeastern University. Redpoint Ventures partner John Welecka will join the Lastline board.
The company sees itself as a direct competitor to FireEye, a security company that recently raised a $50 million round and which seems to be on its way to an IPO.
“This round of funding and the addition of John to our board of directors will further propel our business to new levels as we continue to focus on our products in the channel and continue our research to develop even more solutions to help organizations protect their networks from rapidly evolving threats,” said Jens Andreassen, Lastline’s CEO in a statement today.
The company plans to use this new round of funding to focus on its sales strategy and to further develop the malware and threat detection technology at the core of its products.
As the company notes in its announcement today, it believes that malware authors are getting increasingly sophisticated about evading automated malware analysis systems and signature-based tools to ensure that their attacks are successful. The company argues that its “correlation engine” allows it to defend against these threats and provides “unparalleled correlation engine provides situational awareness and actionable threat intelligence by correlating, aggregating and prioritizing security events based on severity.”