SEATTLE–(BUSINESS WIRE)–March 29, 2016–
ICEBRG , a stealth-mode enterprise network security startup, announced today that it has closed a $10 million Series A round.
, a stealth-mode enterprise network security startup, announced today that it has closed a $10 million Series A round. The funding was lead by Pelion Venture Partners with participation from existing investor Madrona Venture Group as well as other institutional and individual investors.
Founded in 2014 by security industry veterans William Peteroy and Josh Carlson, the company has seen rapid growth and demand for its unique and disruptive approach to network security, currently used by multiple Fortune 500 companies. In the past year, the two have assembled an expert security and enterprise software team hailing from Mandiant, Microsoft, FireEye, and HortonWorks.
ICEBRG’s offering has been met with exceptionally strong early customer response and the company will use this investment to accelerate product development and meet growing customer demand.
“Enterprises are under siege by hackers that can compromise their networks for less than $25 with simple phishing schemes,” said Peteroy, CEO. “A hacker just needs to know how to use email and a credit card while defenders are required to have deep understanding of an increasingly complex set of security tools with fragmented networks and technologies that have grown organically over the years.”
“Attack tools have become fully automated, packaged up, and sold as off-the-shelf products and services, while enterprises are stuck instrumenting an array of different security point-solutions that inherently lack support for automation and integration with other technologies,” said Carlson, CTO. “We started ICEBRG with the vision to create positive change in the security response industry, to empower our customers to focus their limited set of security resources on the most significant threats to their organization at any given point in time.”
“We are excited to partner with the ICEBRG team,” said Chad Packard, Partner at Pelion Venture Partners. “ICEBRG has delivered a unique approach to enterprise network security. Using ICEBRG’s unique solution, the current and quickly growing list of F500 customers achieve real value and are able to rapidly respond and remediate even the most sophisticated attacks. With a top-tier cyber security team and unique product offering, ICEBRG is well positioned to continue their strong momentum.”
Today the security industry is focused on threat intelligence products and services, however, this is only the “tip of the iceberg” when it comes to organizations improving their overall security. The real work for enterprises is being able to tackle the scale, integration and correlation of data so that it can be leveraged to tangibly improve their security posture.
Both Peteroy and Carlson have worked in high profile cyber defense roles for years. While they met in Microsoft’s Security Response Group, the founders started their careers at the National Security Agency. While there, they worked on adversary emulation, attack methodologies and building next generation defense capabilities.
Josh Carlson, co-founder and CTO at ICEBRG, served as the senior technical manager on Microsoft’s Breach Response Team where he managed breach investigations and response for hundreds of thousands of machines across more than a dozen data centers for Xbox Live, Windows, Outlook/Live.com, OneDrive, and others. Prior to Microsoft, Carlson worked as a Principal Engineer and Architect at the National Security Agency.
William Peteroy, co-founder and CEO at ICEBRG, served as a security response strategist at Microsoft where he worked on product security for Windows and Internet Explorer, managing a number of critical 0-day vulnerabilities in both platforms and served on the Microsoft Crypto Board. Peteroy has also been an instructor at the National Cryptologic School at Ft. Meade. Peteroy speaks regularly at information security and research conferences in the United States and internationally, including RECON, SECTOR and Kiwicon.
About ICEBRG
ICEBRG is a stealth security company serving F500 companies and based in Seattle.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160329006328/en/
for ICEBRG
Erika Shaffer, 206-972-5514
erika@Madrona.com
www.icebrg.io
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