ContraForce, a security service delivery platform company, announced the closing of a $3.25 million seed funding round, co-led by GALLOS Ventures and DataTribe. This funding round enables ContraForce’s mission to automate security operations and expand the security services opportunity for managed service providers.
Launched in McKinney, Texas in 2021, ContraForce developed a groundbreaking security service delivery platform that allows service providers to grow their monthly recurring revenue, improve their margins and deliver better client outcomes. And the company saw annual recurring revenue grow 400 percent over the past 12 months and has established a growing customer base and distribution partners worldwide.
The ContraForce platform utilizes proprietary AI and automation that streamlines the time and security expertise service providers require to manage security incident and event management and endpoint detection and response tools, including Microsoft Sentinel, Microsoft Defender, Splunk Enterprise Security, IBM QRadar SIEM, Crowdstrike Falcon XDR, and SentinelOne Singularity XDR. Utilizing the ContraForce platform, service providers can onboard clients within a few minutes and easily manage all their clients and security tools simultaneously in a single dashboard.
This oversubscribed funding round, which included participation from angels and strategic partners, brings a total of $5.25 million in investment to ContraForce, which will use the capital to accelerate the release of new product features and invest in sales and marketing in preparation for a future Series A round.
ContraForce was originally founded through an investment from DataTribe, the Maryland-based cybersecurity foundry that has invested in successful cybersecurity startups, including Dragos, Blackcloak, and Strider Technologies.
In connection wtih the investment round, William Kilmer (GALLOS General Partner) has joined ContraForce’s board of directors.
KEY QUOTES:
“GALLOS specializes in investing in and building great security companies. We’re continuously seeking solutions that address real security challenges, particularly in security operations. ContraForce tackles one of the biggest problems in today’s market by automating the majority of incident investigation and remediation workflows while keeping critical decisions in the hands of security analyst teams.”
“As a former CEO of a managed security services provider (MSSP), I see tremendous potential for ContraForce to scale the managed security services market in a highly efficient manner.”
– William Kilmer, General Partner at GALLOS Ventures
“ContraForce’s goal is to help service providers automate and simplify the delivery of scalable security services. This investment from GALLOS not only provides us with the capital to achieve that, but also brings in a partner who understands how to build and grow security businesses on a global scale.”
– Stan Golubchik, Chief Executive Officer and Co-founder of ContraForce
“We think ContraForce is helping to protect the vulnerable small and mid-sized enterprise sector and are pleased with the progress they are seeing with managed service providers and MSSPs toward this. I’m looking forward to working with WIll Kilmer given his venture and operations experience in this space.”
– Maurice Boissiere, Partner at DataTribe
