Columbia-based Bandura Cyber said Wednesday that its latest round of investment funding increased to more than $10 million.
The new funding, building on the $4 million Series A initially disclosed in August 2018, was led by Tenfore Holdings. Investors in the round also include firms with Maryland ties Grotech Ventures and Gula Tech Adventures, along with Missouri-based Cultivation Capital.
The new funding will help expand sales and marketing, and the company said it will also make investments in product development.
“We are grateful for the support of our investors and the opportunity to deliver the power of automated threat intelligence to organizations of all sizes to block known threats at massive scale,” CEO Chris Fedde said in a statement.
Bandura, which also has an office in St. Louis, makes technology known as Threat Intelligence Gateway, which was developed in part with the U.S. Department of Defense. Working in complement to a firewall, the product is designed to pick up on more than 100 million different threat indicators and proactively defend networks.
Fedde, who joined as CEO a year ago after leading Belcamp-based SafeNet and Hanover-based Hexis Cyber Solutions, has said the technology allows the company to bring cyber tools to small and medium-sized businesses, and it’s looking to work with companies in sectors such as financial services, healthcare, energy, and state and local government. Bandura also pursued growth with larger businesses through integrations with Gigamon and Castra Consulting.-30-
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