Attivo Networks, which develops and provides deception solutions for cybersecurity defence, has closed a strategic investment from Singtel Innov8, the venture capital arm of the Singtel Group, according to a statement.
Investors are betting on technologies that will help companies protect themselves after an attacker has infiltrated their networks.
Attivo Networks said Wednesday it has raised $15 million in funding for deception technologies. The technology distracts hackers with decoys and tracks the techniques the attackers attempt to circumvent them, providing security teams useful information about a hacker’s playbook.
The funding comes as Research and Markets predicts the deception technology market is expected to reach $2.59 billion by 2025.
The company has been adding customers across financial, health care, technology, energy and retail markets. The new funding will help the company as it expands to include more government clients.
Attivo Networks announced today that the company has closed $15M in Series B round funding, made up by major investors including Omidyar Technology Ventures, Bain Capital Ventures, Trident Capital Cybersecurity and Macnica Ventures, a corporate venture arm of Macnica, Inc.. As part of the Series B investment, Chris Bishko of Omidyar Technology Ventures has joined the Attivo Networks board.