The round was led by First Analysis with participation from Elevate Ventures, SmoothBrain, VisionTech Partners, and other seed investors
INDIANAPOLIS and PARIS, Aug. 8, 2023 /PRNewswire/ -- Stamus Networks, the global leader of Suricata-based network security, today announced it has closed a $6 million series A round of funding. The round was led by First Analysis, a Chicago-based venture capital firm renowned for supporting emerging B2B technology companies, with participation from new investor SmoothBrain. In addition, existing seed stage investors Elevate Ventures and VisionTech Partners also participated in the round.
This investment further cements the company's position as an innovator of enterprise class, Suricata-based threat detection and response systems that deliver effective results by integrating modern machine learning with traditional detection mechanisms from intrusion detection (IDS) and network security monitoring (NSM) systems. Focused on elite cyber defenders who require details, control, and transparency, Stamus Networks provides a powerful alternative to both legacy systems and the heavily-hyped artificial intelligence (AI) products that simply trigger a warning with no explanatory context or evidence.
"We were impressed by the conversations we had with Stamus Networks' sophisticated enterprise customers. Each praised the comprehensive, transparent, and granular evidence delivered with detections triggered by the Stamus Security Platform," said Howard Smith, Managing Director at First Analysis. "The customers also applauded the company's exceptional customer support. We look forward to helping scale the organization for breakout growth in this exciting market."
The company will use the funds to advance product innovation, elevate customer experience, and effectively scale go-to-market resources and programs.
"Some of the world's most targeted organizations trust Stamus Networks and its network-based threat detection and response solutions to help secure their operations," said Nick Mirchef, co-founder of SmoothBrain. "This notable list of customers includes central banks, multinational government institutions, departments of defense, managed security service providers, and financial service providers."
"We are excited to partner with First Analysis and SmoothBrain and are grateful for the confidence they and our existing investors have placed in us," said Ken Gramley, CEO of Stamus Networks. "The funds will enable us to expand our market reach and accelerate our research and development, bolstering our position as the leader of Suricata-based network security for enterprises. Ultimately, it will help us keep more of the most targeted organizations in the world secure," Gramley continued.
This week, the Stamus Networks team is exhibiting at Black Hat USA in Las Vegas where they will be demonstrating the Stamus Security Platform and meeting with customers and prospective customers in booth 2716D.
About First Analysis
First Analysis is a leading venture capital investor focused on business-to-business technology companies. The firm has one of the longest records in venture capital, having invested more than $825 million across multiple highly diversified funds over four decades. First Analysis invests mainly in North America with a focus on its sectors of expertise, including cybersecurity, e-commerce optimization, enterprise productivity, future of work, go-to-market tech, healthcare IT, infrastructure tech, Internet of Things, learning tech, pharma IT and vertical software as a service. The firm helps established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Their flexible approach targets investing $3-10 million as lead investor or as a syndicate partner bringing valuable perspective. For more information, please visit: firstanalysis.com.
About Stamus Networks
Stamus Networks believes in a world where defenders are heroes, and a future where those they protect remain safe. As organizations face threats from well-funded adversaries, we relentlessly pursue solutions that make the defender's job easier and more impactful. The global leader in Suricata-based network security solutions, Stamus Networks helps enterprise security teams know more, respond sooner and mitigate their risk with insights gathered from cloud and on-premise network activity. Our Stamus Security Platform combines the best of intrusion detection (IDS), network security monitoring (NSM), and network detection and response (NDR) systems into a single solution that exposes serious and imminent threats to critical assets and empowers rapid response. For more information visit: stamus-networks.com.
