Click Security, a security analytics company, has secured $17.7 million in second round funding. The round was led by Lightspeed Venture Partners, with additional participation from Citi Ventures and existing investor Sequoia Capital. The new funds bring total financing in the company to $24.7 million and will be used to expand sales, marketing and engineering initiatives.
Since initial venture funding – received in September 2011 – Click Security has rapidly gained traction in the security analytics market with key customer wins across financial services, higher education, and retail, the company said. Click Security’s Real-time Security Analytics automates the finding of unknown cyber attack activity hidden in an organization’s big data “haystack”. The product converts logs, flows, authentications and security events into contextual “actor-based” information – enabling security analysts to rapidly pinpoint anomalous activity through automated analytics and interactive visualization.
“Click Security has an approach that spotlights malicious activity early in a predictive, high accuracy and scalable manner. That combined with the potential for an analytic ‘exchange’ opens the door for a very different security analyst mindset. Using predictive analytics to police network activity more proactively is a key part of Citi’s data security strategy, and it’s an area of focus that we see as critical to the financial services industry,” said Arvind Purushotham, managing director of Citi Ventures.
“Having the backing of Lightspeed Venture Partners and Citi Ventures, in addition to Sequoia Capital, is a strong endorsement of the potential for Real-time Security Analytics – and it is perfectly timed to meet the industry’s mounting concern over cybercrime,” said Marc Willebeek-LeMair, Click Security’s chief executive officer. “We experienced the security industry’s shift from IDS to IPS when we founded TippingPoint a decade ago. Given the evolution of the hacker threat, complex and ever-changing attack surface, and constrained time and expertise of most security teams, the time has again come for a fundamentally new security approach. This additional funding will enable us to accelerate a number of development and sales initiatives required to address the high interest for real-time security analytics.”