Published on November 16th, 2021 📆 | 1862 Views ⚑0
SnapAttack Raises $8m to Enable Proactive Cybersecurity by Empowering Offensive Researchers and Network Defenders to Collaborate
Volition Capital Leads Funding Round; Behavioral Analytics and Attack Emulation Platform Delivers Threat Hunting, Detection-as-code, and Purple Teaming Capability
WASHINGTON, November 16, 2021–(BUSINESS WIRE)–SnapAttack, a cybersecurity firm that advances both proactive and collaborative security with a single platform, today announced an $8M funding round led by Volition Capital. The raise was completed in connection with SnapAttack’s recently announced spinout from Booz Allen Hamilton. In addition to Volition Capital, participants in the raise include Strategic Cyber Ventures (SCV) and Booz Allen Hamilton, continuing its investment in the newly independent company.
“Platforms that empower threat hunters and lead the cybersecurity industry to be more proactive will help turn the tide against the onslaught of attacks we’re seeing across the Federal government and commercial sectors,” said Roger Hurwitz of Volition Capital. “We believe SnapAttack can help lead the change from reactive to proactive.”
SnapAttack currently has the most extensive library of labeled attacks in the world, giving the platform the ability to help security teams deploy high-quality, validated analytics based on real hacker tradecraft. The platform’s user community continually adds to and refines analytic content, which can be immediately validated, deployed, disseminated and shared. SnapAttack is unique in the market by combining offensive (red teaming) and defensive (blue teaming) tradecraft to identify security gaps and improve advanced behavioral detections. The vendor-agnostic platform integrates across SIEM, EDR/XDR, and cloud solutions.
In today’s world, most organizations are in a constant state of incident response. SnapAttack offers a proactive solution; a security platform focused on attack emulation, detection-as-code and continuous development and validation of robust behavioral analytics. Using SnapAttack empowers organizations to provide quality detection logic to their technology stacks and prevent attacks before they run their course.
“SnapAttack is poised to empower a new level of collaboration among the next generation of ethical hackers, threat hunters and security researchers providing advanced insights to stop attackers in their tracks,” said Fred Frey, CTO and founding member of the SnapAttack team.
With the funding, the company plans to accelerate platform development to further integrate across security operations processes, manage the entire lifecycle of detection analytics, and enhance reporting. In addition, it plans to drive additional threat intelligence and analytic content types into the platform to create the most robust and comprehensive detections with minimal human interaction. Key team expansion will be focused on product, engineering, and sales to drive product adoption and grow their customer base across Federal and Commercial markets.
SnapAttack (www.snapattack.com) is a cyber threat hunting and detection company with a unique technical solution that enables community collaboration around threat intelligence, attack emulation, and behavioral analytics. The novel approach helps organizations proactively identify potential vulnerabilities, risks, and gaps in their infrastructure before an incident occurs. SnapAttack was incubated in Booz Allen’s Dark Labs and is rooted in years of experience in both nation-state and commercial cyber operations and tradecraft. In 2021, SnapAttack was established as a stand-alone company to focus on rapidly evolving its platform capabilities. They deliver proactive threat hunting, detection-as-code, and purple teaming in a single vendor-agnostic solution.
About Volition Capital
Volition Capital is a growth equity firm that invests in founder-owned, high-growth software, Internet, information services and tech-enabled services companies that have demonstrated both operating discipline and true break-out potential. The firm selectively partners with founders to help them achieve their fullest aspirations for their businesses. Founded in 2010, Volition has over $1.1 billion in assets under management and has invested in over 35 companies in the United States and Canada.
About Strategic Cyber Ventures
Strategic Cyber Ventures (SCV) is a Washington D.C. based venture capital firm that invests in rapidly growing cybersecurity, privacy, and resiliency focused technology companies. The SCV team brings an expert, more modern venture capital experience to startup founders and the broader investment ecosystem, working every day to bridge the gap between emerging commercial technology and corporate and national security challenges. SCV was founded in 2016 by Hank Thomas, a former U.S. Army Intelligence Officer and security consultant.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211116005681/en/
For additional information:
Deana Graffeo Weeks
Alchemy Media/Rosie Labs for SnapAttack