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Observable Networks Receives Series A1 Funding
|By Business Wire
|May 29, 2014 02:18 PM EDT
Observable Networks, an emerging leader of network security technology
and advanced threat detection services, today announced it has received
$2.45 million in Series A1 funding arranged by DH Capital, an investment
banking firm serving companies in the Internet infrastructure,
communications, and SaaS sectors. As part of the funding, Observable
Networks received additional institutional backing from the Vectis II
fund, a prior investor, of which Stifel, Nicolaus & Company, Inc. is a
general partner. The cyber security startup will use the investment to
expand and strengthen sales, marketing, and the product development of
its cloud-based Network Security-as-a-Service offering. As part of its
expansion, the company will also recruit top engineering and channel
development talent, and bring its innovative security capabilities to
broader markets to meet high demand for advanced threat detection
“Observable Networks is setting a new standard for IT security
monitoring in the cloud age. We have the ability to actively model
thousands of devices across complex business networks and critical
infrastructure environments, providing our customers with a clear
picture of device behaviors on their network,” said Bryan Doerr, CEO of
Observable Networks. “This new round of funding allows us to expand our
algorithmic capabilities and pursue multiple channel opportunities. We
are pleased to have such visionary investors who understand the
important role innovation plays in meeting today’s IT security needs.”
Observable Networks recently entered the IT security market, empowering
organizations to readily understand normal and abnormal device behaviors
on their networks. Observable’s continuous device profiling (CDP)
technology and cloud-based service platform uses real-time traffic
sensors and automated security analytics to continuously model all
devices on networks of any size. Observable’s solution is indifferent to
encryption and does not require recognition of threat signatures.
With no specialized hardware to purchase and no software agents to
deploy, Observable’s service is available as a cost-effective
software-as-a-service (SaaS) subscription, which greatly simplifies and
speeds deployment. With scalability ranging from hundreds to millions of
devices, it is a crucial threat detector for any organization -
providing a significant leap forward to a stronger security posture
compared to traditional approaches.
CTO and Founder Dr. Patrick Crowley leads Observable’s engineering and
software development efforts. Under his guidance, the company has
developed CDP technology into a commercial solution and a product line
that includes a managed security solution for Enterprise and SMB
companies, and an industrial control security system for critical
infrastructure and supervisory control and data acquisition (SCADA)
networks – such as power generation and distribution.
“Observable Networks is poised for strong growth in the fast growing IT
security market. With this investment, they have the necessary resources
to expand their market presence into new geographies and industry
verticals,” said Adam Lewis, partner and managing director at DH Capital.
“Patrick, Bryan, and the team have created a compelling service that we
believe is essential for companies who understand the continuously
changing nature of IT security,” said Joseph Schlafly III, senior vice
president and director, private markets at Stifel, Nicolaus & Company.
Including this Series A1 funding, Observable Networks has secured more
than $4M to date to develop and enhance its CDP technology and Network
About DH Capital
DH Capital is a private investment banking partnership serving companies
in the Internet infrastructure, communications, and SaaS sectors.
Headquartered in New York City with offices in Boulder, Colorado, the
firm's principals have extensive experience and proven abilities in
capital formation, finance, research, business development and
operations. DH Capital provides a full range of advisory services to
companies and financial institutions, including mergers and
acquisitions, private capital placements, financial restructuring, and
operational consulting. DH Capital has completed more than 106 M&A
transactions and private capital placements totaling more than $8.5
billion in value. For more information on DH Capital, visit their
website at www.dhcapital.com
About Vectis II
Vectis Healthcare & Life Sciences Fund, II, L.P. (“Vectis II”) is a
national life sciences venture capital and private equity fund that
employs a hybrid strategy of fund and direct investments. Vectis II
invests across all sub-sectors of the healthcare and life sciences
industries, including plant sciences, biotechnology, medical technology,
healthcare services, and health information technology. Co-headquartered
in St. Louis and Boston, the fund’s co-General Partners are Stifel,
Nicolaus & Company, Incorporated and Brooke Private Equity Associates.
About Observable Networks
Observable Networks, Inc. is an emerging leader of network security
technology and advanced threat detection services that identify
compromised and misused networked devices currently escaping detection
by network security tools. Observable’s Continuous Device Profiling
(CDP) technology includes a cloud-based service platform incorporating
automated security analytics and real-time traffic sensors to
continuously model all devices on networks of any size, all the time.
CDP is indifferent to encryption and does not use threat signatures.
Observable empowers organizations to readily understand normal and
abnormal device behaviors in their networks, helping them to identify
compromised devices and facilitate faster remediation. Observable
Networks is a privately held company headquartered in St. Louis, MO. For
more information, please visit www.observable.net
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