Norwest Venture Partners and Lightspeed Venture Partners and others have made a $20m Series A investment in Fireglass, a company founded by Israeli cyber security veterans based in New York, that is focused on a new approach to preventing cyber attacks on large enterprises and financial companies. The approach is still under wraps.
This investment underscores the continuing trend by the venture community to commit significant sums early to promising cybersecurity companies addressing the protection of corporate networks.
As more and more companies fall victim to security breaches and substantial (and embarrassing) data leaks, cybersecurity startups seem to be profiting at their expense. Cybersecurity companies helping companies not get caught with their pants down raised over $3.3 billion in 2015. The latest firm to join the cash grab is Fireglass, a stealth company that is looking to announce its first major product aimed at enterprise cybersecurity this quarter.