BforeAI, an accurate predictive attack intelligence and digital risk protection solution, announced it has closed an oversubscribed $10 million Series B round of funding led by Titanium Ventures. Existing investors SYN Ventures, Karista, and Addendum Capital participated in this round to maintain their ownership stakes.
This funding round brings the company’s total funding to over $30 million and will accelerate market expansion in the utilities, pharmaceutical and healthcare sectors as the company continues to enhance its PreCrime platform, expand sales resources, and strengthen partnerships.
BforeAI’s goal is to proactively safeguard data, IT/OT networks, digital assets, customers, employees, and brand reputation. And enabling organizations to effectively preempt risks in advance of an attack, the PreCrime platform is powered by behavioral predictive intelligence, monitors 98% of the Internet to stay ahead of cyber threats by 18 days on average, and has a false positive rate of a mere 0.05%.
In the past year, BforeAI grew substantially and achieved key milestones, including launching the PreCrime Guarantee and its breach protection pledge in partnership with the leading global cyber insurance provider. The PreCrime Guarantee reimburses customers up to ten times the value of their service contract if impacted by a cyberattack due to a failure by BforeAI’s predictive solution.
Stamina Law in New York City, by Jade Ruscev, provided legal counsel to the company for the financing round.
KEY QUOTES:
“This investment round will enable us to continue our important work to predict and stop new types of attacks before businesses and their customers are harmed. We did not need the additional funding as we closed Series A with SYN Ventures less than 6 months ago. We wanted to work with Titanium Ventures to accelerate our growth into new industry sectors where we have already seen recent success and further increase the scalability of our predictions.”
- Luigi Lenguito, CEO and Founder at BforeAI
“BforeAI offers a unique solution in a crowded cybersecurity market, being able to predict, disrupt and stop a cybersecurity event before it happens, putting the customer ahead of the attacker and out of their reactive response mode. Titanium thinks that this capability is important and relevant to customers globally and are excited to be working with the BforeAI team to build a large and impactful company.”
- Marcus Bartram, General Partner at Titanium Ventures
“BforeAI has quickly proven itself as the leader in predictive security solutions. We were excited to support BforeAI’s relocation of its headquarters to New York following their participation in our FinTech Innovation Lab. By expanding their focus to utilities with this funding round, BforeAI has the potential to play a key role in protecting critical infrastructure in the city and beyond.”
- Maria Gotsch, President and CEO, Partnership Fund for New York City
