Binalyze – a leading provider of cutting-edge Digital Forensics and Incident Response (DFIR) solutions – recently announced it has raised a $19 million Series A round of funding. Molten Ventures led this funding round with participation from existing investors Earlybird Digital East and OpenOcean, and new strategic investors Cisco Investments, Citi Ventures, and Deutsche Bank Corporate Venture Capital.
With cyberattacks growing in sophistication and frequency, there has been a critical need for efficient investigation solutions to reduce the average investigation time to just hours, which will put Security Operations Center (SOC) teams back on the offensive. IDC, State of DFIR Report states that current investigations average 26.1 days. And Binalyze’s state-of-the-art AIR platform addresses this need, enabling enterprises and managed security services providers (MSSPs) to leverage speed, automation, collaboration, and unmatched forensic visibility.
This significant funding round will enable Binalyze to advance its mission to deliver the most comprehensive, end-to-end DFIR investigation platform for cloud and on-premise assets, utilizing lightning-fast speed, advanced automation and integration capabilities, and efficiency-driving collaboration features. Combined, the capabilities dramatically shorten the time required to complete incident response investigations, making often resource-strapped SOC teams more efficient and productive.
Binalyze plans to use this next phase of its growth to strengthen its market outreach team, further R&D efforts by integrating Artificial Intelligence/Machine Learning (AI/ML) into incident response processes, and amplify its worldwide customer support.
This funding round has already enabled the upcoming October launch of Binalyze AIR 4.0 and its brand-new Investigation Hub. As the heart of Binalyze’s intuitive DFIR platform, the Investigation Hub will enable security analysts and incident responders to investigate across hundreds of devices from a single dashboard – increasing speed, visibility, and efficiency.
“Investigation speed post-incident is crucial, but has been hampered by market fragmentation and complex IT systems. Binalyze flips this on its head, with rapid results via advanced automation and multi-platform support. This is a game-changer for SOCs after an attack, and we’re thrilled to back the team as they transform the DFIR market.”
— Edel Coen, Principal, Molten Ventures
“We are thrilled to have secured this substantial investment from such prestigious partners; the participation of Cisco, with its portfolio of cybersecurity solutions, along with the venture arms of Citi and Deutsche Bank, two global banking heavyweights, further underscores the credibility of our technology and team.”
“We have a shared vision for managing cyberthreats, and this is reflected in the confidence our investors have placed in our ability to revolutionize the DFIR landscape. This investment will enable us to enhance our platform’s capabilities further and bring its benefits to even more organizations – ultimately helping them to protect their critical data and assets better.”
– Emre Tinaztepe, Founder and CEO of Binalyze