Cloud Cybersecurity Firm ProtectWise Raises $20M In Series B Funding

When a company’s security is breached a critical step of the recovery process is seeing exactly what happened, including where the vulnerability was exposed and what exactly the hackers had access to. ProtectWise is hoping that their product, which helps companies record “live-streams” of their network activity, can help their clients get to the bottom of critical issues much more quickly than was previously possible.

The Denver-based cybersecurity company just announced that it has closed a $20 million Series B led by Tola Capital. There was also participation from Crosslink Capital, Trinity Ventures, Paladin Capital Group and Arsenal Venture Partners. The company has raised more than $37 million to date.

The company has two major distinguishing factors: Cloud Network DVR, which the company likens to a security camera pointed towards a companies systems at all times, and its visualizer which gives users a very sleek and modern presentation of what’s happening on the network at any given time.

The design of ProtectWise is actually really interesting. Cybersecurity services generally could care less about user experience from a design standpoint and end up showering users with charts that like they’re straight out of Excel.

ProtectWise decided that it was going to heavily emphasize interface design, so the company went after an unlikely hire, a Hollywood designer responsible for much of the space-age coolness in movies like Oblivion and Tron: Legacy. The influences are pretty clear.

ProtectWise HUD Screen Shot 2015-09-29Scott Chasin, CEO and co-founder of ProtectWise, believes that what really distinguishes the company, other than its product’s Tron-like design, it its commitment to really changing how companies approach threat response and recovery.

“We are driving a shift away from the old school, prevention-centric, endpoint approach to network security to a modern, integrated platform approach that is based on vastly improved detection, visibility and response,” said Chasin in a statement. “The new funding reflects the massive market opportunity for a newer way to address network security and in particular, for delivering security at scale with a unique utility model. The funding will help propel us into 2016, and Tola Capital’s focused experience with enterprise software platforms makes them a great addition.”

Tola Capital managing director Sheila Gulati has joined the ProtectWise Board of Directors as the result of this investment.