UPDATED 00:11 EDT / AUGUST 23 2017

INFRA

Threat detection startup Versive raises $12.7M in new round

Threat protection startup Versive Inc. Tuesday said it has raised $12.7 million in a new funding round from a number of undisclosed investors.

Founded in 2012, Versive offers a platform called the “Versive Security Engine” that utilizes artificial intelligence and human expertise to deliver enterprise users what it calls automated “adversary campaign hunting.” Versive says the technique enables “overwhelmed cybersecurity teams to win against hostile actors targeting high-value assets inside networks.”

The way the company uses AI with human intelligence makes it an interesting mix. Essentially Versive applies a machine learning process to track how humans think and then uses that knowledge to spot hackers on a enterprise network.

“We know organizations are overwhelmed by data, unable to detect high-risk patterns in their network,” Chief Executive Officer Joe Polverari said in a statement. “We know that even with unlimited human resources, customers still wouldn’t be able to identify these patterns, systematically at scale. Therefore, we designed the VSE to focus analysts on legitimate, critical threats and to make investigation easy with transparent ThreatCases.”

The Seattle-based company has been noticed by others. Research firm CB Insights Inc. named Versive on its Artificial Intelligence 100 list, a ranking of the 100 most promising AI companies –  confirmation that the company is going places.

Including the new round, Versive has raised $54.7 million to date. Previous investors include Bank of America Merrill Lynch, Bloomberg Beta, Formation 8, Goldman Sachs, Madrona Venture Group, New York Life Insurance Co., Rolling Bay Ventures, Vulcan Capital and Work-Bench.

The company said it would use the new funding to expand its sales and marketing team and further develop its threat detection technology.

Image: Versive

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