CyberFlow Analytics, a US-based software company that protects enterprises from corporate espionage and advanced persistent threats (APTs), has secured $2 million in funding from Toshiba America Electronic Components (TAEC), the semiconductor and components division of Japan-based conglomerate Toshiba, in a seed round of funding. The TEAC finance is part of a $4 million seed round that CyberFlow expects to complete by November.
CyberFlow Analytics’ initial funding now totals $2.6m.
Following close of the seed financing round, CyberFlow will be working with early beta customers to test its product and is targeting a commercial release by mid 2014.
George Bouchaya, vice president and chief technology officer, Institute of Strategic Storage Planning & Investment for TAEC, said: “This is an important strategic alliance between TAEC and CyberFlow Analytics. The evolution of big data analytics in the enterprise presents a large market opportunity both for TAEC and companies like CyberFlow Analytics, especially for next-gen security applications on large data flows.”
Dr. Hossein Eslambolchi, chairman and CEO of CyberFlow Analytics and former chief technology officer of AT&T, said: “A strategic investment from a company such as TAEC shows the magnitude of the problem companies are incurring from APTs. Companies face an increasingly hazardous threat landscape, from stealth malware introduced via personal mobile devices, to sophisticated systemic attacks. The alliance between TAEC and CyberFlow Analytics will help to develop software that analyzes large amounts of streaming network data to better protect companies’ intellectual property, and respond swiftly to a dynamic threat landscape.”