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TrueFort Raises $30 Million Series B To Grow its Application Protection Platform

The Weehawken, New Jersey-based startup has raised a total of $47.7 million after closing a $30 million Series B investment round.

The company’s “Fortress” platform employs behavioural analysis to understand how apps and workloads should and shouldn’t behave, and then uses that knowledge to lower an organization’s attack surface and block attacks in real time.

The increased funds will be utilised to help the company with employment, expanded go-to-market efforts, and R&D, among other things.

“Traditional security products have concentrated on defending core IT infrastructure from threats,” the business notes. “However, attackers’ success in executing ransomware, supply chain, and phishing attacks shows that there are still substantial gaps in security coverage.” “TrueFort addresses this need by providing Zero Trust protection for enterprise applications and workloads that are the gateway to sensitive data and, increasingly, the target of attackers,” says the company.

Shasta Ventures led the Series B investment, which included Canaan as well as existing investors Evolution Equity Partners, Lytical Ventures, and Emerald Development Managers. As part of the agreement, Nitin Chopra, Managing Director at Shasta Ventures, will join TrueFort’s board of directors.

The startup, which was founded in 2015, previously raised $13.7 million in Series A funding in 2019.

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Source: https://cybersguards.com/truefort-raises-30-million-series-b-to-grow-its-application-protection-platform/

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