IT security provider Egress have raised USD 40 million in a Series C round led by FTV Capital. With this investment, Egress seek to secure sensitive business data and reduce the risk of data loss due to exposure to unprotected environments.
According to Egress, organizations fall prey to at least one social engineering attack per year. They say these attacks affect the organization’s IT environment, compromising the over all security of their business data.
By raising USD 40 million in Series C round of funding, Egress claim that they will be boosting their cybersecurity prowess and allow enterprises to protect critical data and avoid data loss due to exposure to malignant items. They further added that businesses can mitigate risks by wrapping anti-virus shield around their environments.
Egress say that this investment will enable enterprises with a full suite of data-shielding services including email, document classification, accidental send prevention, and email and file protection. They believe that their risk-based approach helps users to avoid potential mistakes like sending information to the wrong recipients, to provide security administrators with insights into behavioral anomalies.
Explaining the monitoring process of their cybersecurity products, Egress say that their Secure Vault product analyzes messages and lets admins drill down dates, users, metadata and weak data links. They claim that since Egress are expanding into the next phase of growth, they will be working on bettering the features and benefits provided by their products in various markets.
Looks like the cybersecurity market is booming with investments across the globe. It will be interesting to see how Egress make the most of this deal, following Avanan’s USD 25 million Series A funding.
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Original source: Egress raises USD 40 meg to advance cybersecurity art.