Seattle, Washington based enterprise security startup, SignalSense, has closed a Series Seed funding round of $4.5 million, with Trilogy Equity Partners as the lead funder.
The latest capital infusion will be used by SignalSense to accelerate technology development, expand the company’s sales presence on the East Coast and hire additional data science, security and software engineers to complement the experienced and capable team that is already in place.
SignalSense was founded in early 2013, with investments from Seattle-area angel investors, Trilogy Equity Partners, Ignition Partners, and Tola Capital.
The company claims to have developed “a new and proven system” of advanced network security intelligence that up-levels enterprise security from the inside-out in order to help companies identify, understand and avoid the damaging effects of targeted attacks and insider threats.
“We’re finding anomalies that can’t be stopped with standard pattern matching,” said Lynn Kasel, SignalSense’s CEO.
“Security is moving beyond pattern matching, to systems where we collect and analyze all of the data moving inside the network. This volume of data is impossible to think through at a human level. Our goal is to multiply the mind of a security professional by using compute capacity that’s driven by artificial intelligence systems. This simulates what a human security expert would actually do. Rather than focusing on individual data streams that are extremely expensive to analyze, we are extending what you can look at, and what you can care about.”
SignalSense claims that more than one billion personal records were illegally accessed in 2014 — up more than 54 percent versus 2013. It also claims that the average data breach costs companies $3.5 million.