DB Networks Closes $17 Million Funding Round Led By Grotech Ventures with Participation from Khosla Ventures, and Citi Ventures -- New Financing to Fuel Continued Rapid Growth of the Cyber Security Firm in Core-Network Intelligent Continuous Monitoring
SAN DIEGO, Dec. 9, 2014 -- DB Networks, an innovator of cyber security for core networks, today announced $17 million in new financing led by Grotech Ventures of Vienna, Virginia. The round also included funding from investors Khosla Ventures and Citi Ventures. DB Networks also announced that Joe Zell, general partner at Grotech Ventures, has joined its Board of Directors.
The sheer volume and scope of cyber attacks continues to increase each and every year. Whether it’s state-sponsored espionage, breaches of financial information, or intellectual property theft -- the ultimate target is the database. No organization is immune from the threat of cyber attacks. Attackers are becoming increasingly sophisticated and highly targeted.
"DB Networks enables organizations to effectively cope with the advanced threats against their critical information assets in the core network, which is really a first of its kind solution for core database protection," commented Joe Zell, General Partner of Grotech Ventures. "The company has impressive momentum and we believe that every large company that is facing these advanced database threats will need the unique solution that DB Networks has developed.”
Through cutting-edge behavioral analysis technology, DB Networks enables their customers to gain new insights and a situational awareness of their database security and core network attack surface. With these insights, customers are able to take specific proactive actions to significantly reduce the risk of a data breach. Further, intelligent continuous monitoring ensures attacks against the database are immediately identified. DB Networks’ customers include the world’s largest financial institutions, healthcare providers, manufacturers, government agencies, and the military.
“At Citi Ventures we are committed to finding new technologies and solutions that improve the overall security and well-being of financial and enterprise networks,” said Ramneek Gupta, Managing Director for Investing at Citi Ventures. “DB Networks has built a powerful behavioral intrusion detection capability, and we are excited about partnering with the team to further its application and potential.”
“I’m extremely excited to be situated at the leading edge of this new era in cyber security -- intelligent continuous monitoring is proving to be a game changer,” said Brett Helm, Chairman and CEO of DB Networks. “This additional funding will allow us to drive further innovation, expand our product portfolio, and scale the business.”
About Grotech Ventures
Founded in 1984, Grotech Ventures is a leading investor in high-potential technology companies. With more than $1.3B under management, Grotech seeks innovative IT companies with particular emphasis on digital and social media; software and SaaS; security and storage technologies; healthcare information technology; and communications technology and services. Grotech continues to invest and add value throughout the growth of its portfolio companies. General partners include Frank Adams, Chuck Cullen, Lawson DeVries, Steve Fredrick, Don Rainey and Joe Zell. The firm has offices in Virginia, Maryland and Colorado. For more information, please visit www.grotech.com.
About Citi Ventures
Citi Ventures accelerates growth across Citi through venture investing, its global network of innovation labs and strategic partnerships in the startup ecosystem. Under the leadership of Citi’s Chief Innovation Officer, Debby Hopkins, Citi Ventures is located in the heart of Silicon Valley, close to the disruptive forces that are driving change across financial services and upending traditional growth areas. Citi Ventures focuses on delivering next generation experiences for the bank’s customers, driving innovation across Citi, and ultimately transforming the future of financial services.
About DB Networks
DB Networks® innovates cyber security through intelligent continuous monitoring. Our customers include the world’s largest financial institutions, healthcare providers, manufacturers, government agencies, and the military. DB Networks' unique approach to database security utilizes behavioral analysis to automatically learn each application's proper interactions and then applies those learning’s to accurately and immediately identify attacks in the core network. With no signature files to deal with or endless false positives to chase down, operational support becomes trivial. DB Networks is a privately held company headquartered in San Diego, California. For more information, see dbnetworks.com or call (800) 598-0450.