Norwest Venture Partners, the venture capital firm that manages funds for financial services firm Wells Fargo, and VC firm Wing Ventures co-led a $15m series A round for US-based cybersecurity company Dtex Systems yesterday.
Launched in Australia in 2000 with early-stage funding from the Australian government’s technology innovation programme, Dtex’s platform secures data against internal and external threats.
The technology can detect employees stealing data, identify devices compromised by an outside hacker, and assist businesses in complying with international data protection laws.
Dtex will use the series A funding to enter the US market, and has moved its headquarters to Silicon Valley.
Mohan Koo, chief executive and founder of Dtex, said: “Dtex has adopted a trust-but-verify approach which enables people-centric analytics to secure the endpoint, without compromising employee privacy.”