Open-source cybersecurity platform CrowdSec has secured $13.7 million in Series A funding.
Data security is gaining importance, and organizations within the sector are looking to expand their operations. One example is CrowdSec, the developer of an open-source data security platform that analyzes the behaviour of IP addresses.
The organization has successfully secured $13.7 million in Series A funding to help expand its US operations and increase its network. So far, the company has managed to amass $19.1 million in funding. Some of the biggest investors include Supernova Invest and Breega.
CrowdSec’s impact on cybersecurity
CrowdSec offers a solution that tracks the behaviour of Internet Protocol (IP) addresses. This information is then used to detect threats in real-time, automate security processes, prevent data breaches and provide a comprehensive report to help companies build an incident response plan.
Due to its collaborative nature, CrowdSec offers a real-time threat intelligence system that is crowdsourced and regarded as one of the best solutions to track threats worldwide.
“Forty years of cybersecurity has proven isolated cybersecurity defenses to be largely ineffective, regardless of the vast resources invested by companies, institutions, and governments”, CrowdSec CEO Philippe Humeau said. “CrowdSec’s unique strength lies in numbers and applying a concerted, global approach to a global problem. Cybercriminals are outnumbered tens of thousands to one by legitimate Internet users, all of whom can now join forces to protect themselves and each other.”
This funding is just the beginning of CrowdSec’s push toward growing its platform and improving the cybersecurity landscape for organizations worldwide. With data privacy regulations becoming prevalent, organizations like CrowdSec must fund their operations and improve their processes. Time will tell how CrowdSec uses the funding to improve.