UPDATED 12:52 EDT / NOVEMBER 28 2016

INFRA

Cybersecurity services startup Proficio raises $12M to go global

Most of the security startups that raise funding nowadays compete on the software side of the breach prevention market. Proficio Inc. is different.

The Carlsbad, Calif.-based company provides managed network protection services for enterprises that struggle to deal with the growing volume of hacking attacks on their own. It entered the industry spotlight today after announcing a $12 million funding round led by Kayne Anderson Capital Advisors L.P, a leading name in alternative investment. The firm was established in 1984 and has since grown to manage a $24.5 billion asset portfolio that spans from startups to energy securities.

Proficio will use the new capital to expand its professional services operation, which helps companies reduce the load on internal network protection staff. It does so by taking on the task of maintaining their security infrastructure, which includes device configuration, patching and day-to-day monitoring.

For organizations with more advanced needs, it provides a cloud platform called ProSOC that serves as a sort of security command center. The service combines various analytics, threat intelligence and breach forensics tools to let clients identify vulnerabilities in their environments.

Proficio sells these offerings alongside a lineup of consulting services focused on helping companies evaluate their data center security defenses. Despite intense competition from IBM Corp. and other better-established providers, the startup claims to have more than doubled revenues in each of the past three years.

Proficio plans to open new offices throughout the Americas, the fast-growing Asia Pacific region and Europe. Tim McElwee, the firm’s cofounder, hinted that his firm also plans to enhance its cloud portfolio by introducing “platforms leveraging advanced analytics, threat intelligence and orchestrated incident response.” The first enhancements are due to arrive in the first half of next year.

Image via Pixabay


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