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Prevoty, an online applications cyber security startup, has just raised an $8 million Series A round, led by USVP. The company has developed runtime application software that it claims helps to prevent hacks to online websites and applications. Investor interest in Prevoty comes from a rising tide of cyber security threats and a limited ability for businesses to protect themselves.
“Enterprises are aware that their applications are entry points for hackers,” said Julien Bellanger, co-founder and CEO of Prevoty. The question is: “how do they protect themselves in a scalable way?”
Prevoty’s platform pre-processes application inputs milliseconds before it hits the Internet browser, stopping malicious content before it ever gets going. The platform is on the look out for generally well-known malicious code sets and can be programmed to watch for certain types of HTML code as well. The Prevoty platform can be run on premise or in the cloud. Bellanger said Prevoty’s pre-processing of data causes very little latency: only an eight milliseconds delay at maximum.
Cyber-security protection has in the past been rather labor intensive, requiring the constant involvement of developers. Prevoty’s ability to automate much of the application security process is one of the platform’s biggest advantages, said Bellanger. That advantage is especially useful to businesses that are hard pressed to find additional technical talent to handle cyber-threats.
“Throwing people at these issues when there is a limited amount of people to handle these issues is not scalable,” said Bellanger.
Prevoty’s customers include consumer facing media and e-commerce sites, and financial institutions like banks and payment processors. The company is also exploring health care and education applications. Bellanger said the company is ultimately agnostic to which industries use their software.
Confident going-to-market with their current software, Prevoty said they will be using much of their new investment capital to grow revenue by hiring additional sales and support representatives.
Prevoty’s investors include USVP, Plus Capital, Double M Capital, Core Ventures Group, Eric Hahn, Chairman of Proofpoint, Daher Capital, Digi Venture Fund and Karlin Ventures.
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