For most startups, funding is an integral part of the business plan. Without funding from outside sources, these startups would not have the resources they need to move their businesses forward. That being said, two of LMGPR’s clients have just closed funding rounds to the tune of $10 million dollars each:
Distil Networks recently closed $10 million in Series A funding to battle malicious bots. Foundry Group and Techstars’ Bullet Time Ventures led the latest round, joined by ff Venture Capital, IDEA Fund Partners and Militello Capital. The funding will be used will be used to support Distil Networks’ ongoing efforts to eliminate bad bots and continued growth as the company opens new offices in Raleigh, North Carolina and San Francisco, California.
Fortscale has secured $10 million in funding led by Intel Capital and Blumberg Capital to deliver User Intelligence to enterprise security teams. The funding will be used to extend the company’s research and development, engineering and analytics groups and promote partnerships. The funding will also be used to establish the company’s new headquarters in Silicon Valley and rapidly expand Fortscale’s Israeli based R&D and analytics teams in order to support new Fortune 1000 customers.
We would like to congratulate both Distil Networks and Fortscale on their funding success. The vote of confidence from the funding community bodes well for both companies as they continue to grow and make names for themselves within the tech security space.