Startup Spotlight: insider threat cybersecurity from Dtex
San Jose, California-based Dtex Systems is a cybersecurity firm specialising in insider threat protection.
Insider threat protection refers to the uncovering of potentially dangerous activity within an organisation’s network, identifying and predicting risks across the proliferating number of endpoints inherent to a modern organisation. Dtex’s specific implementation is known as DMAP+, a technology which correlates telemetry, introspection and predictive modeling in real-time, to identify patterns and therefore threats.
Dtex’s approach has seen it raise $57.5mn since its Series A round in 2015. Earlier this month, the company raised $17.5mn in a Series D round led by Northgate Capital, with other investors including Four Rivers Group and Northwest Venture Partners.
“The addressable market for Dtex sits squarely in the enterprise insider threat cybersecurity sector, where the need to eliminate point solutions has already moved beyond the early adopters,” said Bahman Mahbod, President & CEO, Dtex. “Insider threat security needed a total revamp – one with a modern approach that offers comprehensive and organization-wide visibility. Dtex is providing customers with a simple and endlessly scalable platform to instrument the enterprise in real-time, with sophisticated analytics that are proven to find the needles in the haystack.”
The company said it had doubled revenues in 2019, and that it would use the new funding to expand beyond its traditional heartland of banking and financial services, critical infrastructure, government and defence into industries such as pharmaceuticals, life sciences and manufacturing.
“We’ve been impressed by the success of the Dtex management team that has successfully scaled and exited cybersecurity companies and has now delivered enterprise-wide deployments for world-renowned blue-chip financial services, critical infrastructure and government clients,” said Justin Stebbins, partner, Northgate Capital. “Today’s cybersecurity needs are greater than ever. Threat vectors and sophistication of attacks are increasing, and information security has become a battleground of fragmented point solutions, to the dismay of security operators.”
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