Welcome!

News Feed Item

BalaBit Secures $8M for Business-Friendly IT Security

C5 Capital Backs BalaBit in Global Growth, Including North America and Additional European Markets

NEW YORK, NY -- (Marketwired) -- 06/18/14 -- BalaBit (www.balabit.com), a Europe-based IT security innovator, has raised a $8 million Series A round of funding to speed up the development and expansion of its pioneering IT security platforms. The new investment will be used to fuel BalaBit's international expansion in North America and additional European markets including the UK and Scandinavia. The cash was raised from London based C5 Capital, Europe's first dedicated investor in the security and data sector.

Using the strong financial backing by C5 Capital, BalaBit aims to aggressively establish its revolutionary new security concept called Contextual Security Intelligence™ on an international scale. Adopting new information technologies is the key factor of competitiveness today, and IT security is often complex for any company or organization. Security control can hinder IT projects and other business processes. In the last decade, companies invested significant amounts of money into monitoring technologies mainly for IT management and compliance reasons, but not for IT security. It seems that for companies today security means control, and this is what Contextual Security Intelligence aims to change and establish for business-friendly IT security.

"Control tools are often inefficient against human intelligence and behavior. Control is ideal to protect against automatic attacks executed by machines but often fails against individual behavior," said Zoltán Györkő, CEO and co-founder of BalaBit. "If IT security officers keep increasing the control, they will not be more successful in maintaining the required security level, and may encounter user resistance. Instead, they should explore what happens in their network and interfere if necessary. This is exactly what Contextual Security Intelligence is about. We are working hard to launch a new generation of IT security product to help companies focusing their security resources and replacing some old-school control tools, in the spirit of business efficiency."

Control failures are in today's headlines: Sony, Target, Adobe and eBay all had serious security breaches in spite of having sophisticated security controls. Often, the most costly data breaches are well-prepared crimes by insiders or by external attackers who gained internal access to get sensitive company data or infect the network.

"We believe that managing human risk is an under-invested part of information security. BalaBit offers a market-leading suite of products to address this threat. A core component of our investment approach is our 'all hands' engagement, which means we bring all our resources to bear for a small number of companies in order to actively drive value. BalaBit is a representative case as it seeks to launch new products and expands overseas," said Nazo Moosa, Managing Partner at C5 Capital. "We were drawn to BalaBit's first class software development talent and the team. In addition to building out the sales reach of the existing log management and IT security audit products, we are eager to capitalize on the technological innovations inside BalaBit."

BalaBit markets its security products in North America through a series of resellers and system integrators. The company also has strategic partnerships with several US-based security software vendors. To see a list of BalaBit channel partners, please visit BalaBit's Partner Site.

About C5 Capital
C5 Capital is Europe's first dedicated investor in the data and security sector, C5 Capital (www.c5capital.eu). It focuses exclusively on this European market.

C5 makes transformational growth capital investments of $5 - $25 million in fast growing, profitable European companies that operate in the security and data sectors. In return, C5 Capital offers a high level of operational and board support, as well as access to a network of senior advisers and business partners.

Founded by Nazo Moosa, a former founding member of The Carlyle Group's European technology fund. The firm has a fund target of $125 million.

About BalaBit
BalaBit -- headquartered in Luxembourg -- is a European IT security innovator, specialized in advanced monitoring technologies. It has sales offices in France, Germany, Hungary, Russia, in the UK and the United States and partners in 40+ countries. The main development centers are based in Hungary. BalaBit has customers all over the world including 23 percent of the Fortune 100 companies. The company is widely-known for syslog-ng™, its open source log management solution, used by more than a million companies worldwide. This significant user base provides a solid ground for the business expansion which is fueled by Shell Control Box™, a pioneering development for the rapidly-growing niche of privileged activity monitoring market.

For more information, visit www.balabit.com.

BalaBit™, Shell Control Box™, syslog-ng™ and Contextual Security Intelligence™ are trademarks of BalaBit. All other product names mentioned herein are the trademarks of their respective owners.

Contact:
Dan Chmielewski
Madison Alexander PR
714-832-8716
949-231-2965

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...