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
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are an IT services solution provider and we sell software to support those solutions. Our focus and key areas are around security, enterprise monitoring, and continuous delivery optimization," noted John Balsavage, President of A&I Solutions, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DivvyCloud as a company set out to help customers automate solutions to the most common cloud problems," noted Jeremy Snyder, VP of Business Development at DivvyCloud, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We want to show that our solution is far less expensive with a much better total cost of ownership so we announced several key features. One is called geo-distributed erasure coding, another is support for KVM and we introduced a new capability called Multi-Part," explained Tim Desai, Senior Product Marketing Manager at Hitachi Data Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st 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 w...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st 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 devic...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
21st International Cloud Expo, taking place October 31 - November 2, 2017, 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. Me...