MistNet closes $7m Series A alongside new product launch

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MistNet closes $7m Series A alongside new product launch

27th May 2019 data protection global markets 0

Threat detection and response platform MistNet has closed its $7m Series A, alongside the launch of a new service.

Silicon Valley-based venture capital firm Foundation Capital led the investment, which also received support from WestWave Capital and an unnamed networking and security company.

These fresh funds will be used to support MistNet’s rapid growth in the US and global markets.

The cybersecurity company claims that an average enterprise has 17,000 alerts each week, but 96 per cent of these are not investigated due to staff limitations. Even further, 14 per cent of breaches do not cause any alert, with attackers averaging around 269 days in a compromised enterprise.

To combat this, MistNet combines AI and mist computing to automatically and continuously hunt threats in real-time across the entire landscape of an enterprise.

The CyberMist solution provides 360-degree visibility by implementing advanced threat modelling techniques end-to-end across end-user, OS, network and cloud resources. This lowers the level of false positives given through only a partial view. Its platform reduces the overrun of security data and guarantees organisations take the correct action during an incident.

CyberMist leverages dynamic data analytics of information on geographically distributed datasets.

MistNet president and CEO Geoffrey Mattson said, “We’re very excited to announce the availability of our CyberMist threat detection and response platform, combining geo-distributed edge AI with patent-pending mist computing technologies.

“With CyberMist we’re able to deliver maximum accuracy, efficiency, and performance across the entire modern enterprise attack surface, stopping attacks before they happen and lessening the burden on security operations teams.”

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