REDWOOD CITY — Lastline, Inc., a provider of malware protection for cybersecutiy, announced it has secured $28.5 million in its latest round of funding led by Thomvest Ventures. The round also includes investments from Osage University Partners, Redpoint Ventures and other current investors, and strategic investors Barracuda Networks, Inc., NTT Finance Corporation, and WatchGuard Technologies, Inc.
The company will use the money on sales and marketing expansion and bolstering its development organization to deliver on its vision of breach detection.
Lastline is adding two new members to its board of directors. Joining the Lastline board are Thomvest Ventures Partner Umesh Padval and AlienVault President & CEO Barmak Meftah. The new additions bring extensive operational experience, strength, and insight as the company continues to build on momentum that has seen 100 percent annual growth since its flagship product, Lastline Enterprise, was first introduced in 2013.
“This powerful endorsement from the investment community speaks to the market need for a solution that delivers exceptional enterprise security at dramatically lower costs,” said Christopher Kruegel, co-founder & CEO, Lastline. “Our investors recognize the significant opportunity in front of us and believe that Lastline is positioned for phenomenal success. This funding, strengthened board, and the resulting growth will solidify Lastline as the leader in advanced breach detection.”
Despite massive investments, enterprises continue to suffer data breaches caused by advanced malware. Lastline already is filling that gap with a proven solution that detects advanced malware, regardless of evasion techniques, and analyzes network activity to detect malware already active on a company’s network.
“We are excited about our investment in Lastline,” said Umesh Padval, Partner at Thomvest Ventures. “Legacy malware detection solutions are both ineffective at stopping today’s sophisticated threats and are too expensive to deploy and maintain. Lastline is well positioned for success in the market with its superior technology that provides unparalleled visibility and detection of the most advanced and evasive malware at a very compelling cost and an ease of deployment for the customers.”
Lastline’s initial success was achieved through integrations with market leading security technology providers, and the company continues to reap the rewards of those relationships. In 2016 the company expanded its distribution model to include direct sales to enterprises worldwide, resulting in enhanced brand reputation and accelerated revenue growth.