RevealSecurity, the leader in application detection and response, announced a $23 million Series A funding round.
RevealSecurity protects organizations against malicious activities performed by insiders and imposters in enterprise applications. The funding will be dedicated to accelerating RevealSecurity’s global expansion and product development and is led by SYN ventures, with participation from Hanaco Ventures, SilverTech Ventures and World Trade Ventures.
The market-wide shift of business-critical functions from on-premises to SaaS and cloud has widened the attack surface for malicious activity from imposters and trusted users. This trend has led to an increased need for solutions that accurately monitor user activities, in order to detect business process attacks in a way that adapts to many different types of applications.
Current solutions for detecting malicious activity in the application layer are based on rules defined by log events and generated by specific applications. However, rules-based solutions only detect known attack patterns and generate a high number of false alarms, requiring constant investment and maintenance.
RevealSecurity’s detection solution is application-agnostic, analyzing user journeys within and between different applications – SaaS, cloud and custom applications. The company has developed a patent-pending unsupervised machine learning algorithm to analyze event logs and detect suspicious user journeys. Founded in January 2021, RevealSecurity has experienced hyper-growth over the past year, expanding its international customer base across banking, insurance, healthcare and utilitiesou.