#AI News: Versive Raises $12.7 Million Behind Significant Market Advantage and Demand for AI-Powered Cybersecurity Solutions
Existing investors Goldman Sachs, Madrona Venture Group, Formation 8, and Vulcan Capital contributed, affirming Versive's unique mission-focused approach
SEATTLE - August 23, 2017 (Investorideas.com Newswire) Versive, the leader in mission-focused adversary detection, today announced it has raised an additional $12.7 million in funding. Building on early market traction for the Versive Security Engine (VSE), this investment validates Versive's approach: one built around the distinct characteristics of the adversary mission stages, objectives, and behaviors inside the network. Utilizing this framework allows the VSE to cut through network noise and highlight only the critical threats. Furthermore, this approach to automating human expertise with Artificial Intelligence (AI) is extensible. Versive will add new use cases leveraging the same software platform and underlying data.
"Versive continues to strategically apply AI on integrated data to automate human-like insight at scale," said Versive CEO Joe Polverari. "We know organizations are overwhelmed by data, unable to detect high-risk patterns in their network. We know that even with unlimited human resources, customers still wouldn't be able to identify these patterns, systematically at scale. Therefore, we designed the VSE to focus analysts on legitimate, critical threats and to make investigation easy with transparent ThreatCases™."
The value of anomaly detection has already been identified, but existing solutions fail to separate truly malicious threats from network noise. As highlighted in the Cisco 2017 Annual Cybersecurity Report, only 28 percent of security alerts are legitimate and 44 percent of security operations managers see more than 5,000 security alerts per day.
"Versive's momentum speaks to the demand for AI technologies that address key cybersecurity gaps and how they are uniquely suited to break through," said Kevin Zerrusen, Managing Director, Technology Risk, at Goldman Sachs. "This investment will help advance what we foresee as a clear leader in this space."
Versive has also earned recognition from prominent industry stakeholders, including:
- Named to CB Insights' prestigious Artificial Intelligence 100 list ("AI 100") ranking of the 100 most promising private AI companies in the world
- Won Best of Interop for Emerging Vendor in Security for the AI-powered Versive Security Engine, the first mission-focused adversary detection product on the market
- Announced a strategic partnership with Cloudera, platform provider for machine learning and advanced analytics, creating the only enterprise-scale, automated, adversary detection solution
"Versive's next generation approach provides the detection and understanding of advanced adversary tactics we need to assist us in our cybersecurity defenses. We believe that Versive's combination of advanced AI and automation is an optimal way to help stay secure, now and in the future." - CTO, $2.5 billion credit fund
This latest investment brings Versive's total funding to $54.7 million.
Engage with Versive:
White Paper: Artificial Intelligence Meets Mission-Focused Adversary Detection
Versive is the leader in mission-focused adversary detection. The Versive Security Engine uses AI to automatically and dynamically contextualize behaviors within the adversary campaign mission stages. This enables us to separate campaigns that warrant investigation from network noise, and deliver robust ThreatCases™ instead of a flood of disparate alerts. But cybersecurity is only the beginning. The VSE is built on an interoperable software platform that will be extensible to other use cases where expert human methodologies can be enhanced with AI. Versive is recognized on CB Insights' prestigious AI 100 list of the most promising, privately-held artificial intelligence companies, and the Versive Security Engine won "Best of Interop 2017" for emerging security solutions. Learn more at www.versive.com.
Justin Baker, 206-973-3108
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