Company Culture

Cybersecurity startup Bandura Systems raises $3.5M, grows Maryland presence

The company, which now has a headquarters in Columbia, has a product to help businesses use threat intelligence.

Chris Fedde is CEO of Bandura Systems. (Courtesy photo)

Cybersecurity startup Bandura Systems is looking to grow with new funding and an office in Columbia that will serve as one of two company headquarters.
The company announced Wednesday that it recently closed on $3.5 million in seed funding to ramp up sales and development of its technology, called a Threat Intelligence Gateway. The round was backed by East Coast investors including Blu Ventures, Gula Tech Adventures (the venture firm of former Tenable CEO Ron Gula) and TEDCO. From Missouri, Prosper Women Entrepreneurs , SixThirty and UMB Financial Corporation also participated.
The funding comes on the heels of the company’s hiring of CEO Chris Fedde. The former CEO of Belcamp-based SafeNet joined earlier this year as previous CEO and cofounder Suzanne Magee remained with the company. The startup also recently brought on Todd Weller as Chief Strategy Officer. He previously worked at Hexis Cyber Solutions, where Fedde was previously CEO.
With those moves, the company now has a business headquarters in Columbia, Md. A second HQ in Lake St. Louis, Mo., is home to the company’s development team.
The Threat Intelligence Gateway was developed by the company’s cofounders in part with the U.S. Department of Defense. The software tool compiles available information about potential cyber threats, which can number at 10 million, Fedde said. With that info, it can apply rules to defend a network and block known threats.
While threat intelligence companies that provide info have grown (Baltimore-founded Lookingglass is one company that specializes in the field), Fedde said Bandura’s product “takes all the power that is locked up in threat intelligence and puts it to work.” The fact that it is a software tool can make it available to small-and medium–sized businesses.
“At any one time there are more than 10 million known threats, but what hasn’t been available to small-and medium–sized network owners is, how do you use all of that threat intelligence,” he said.
Along with adding security capabilities, the software could also help reduce a business’ staff workload on cybersecurity efforts, Fedde said.
In the near term, Fedde said the company will be hiring in sales and marketing as it looks to grow the company’s client base. The company currently has a team of 25 people split between the two offices.

Before you go...

Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

3 ways to support our work:
  • Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
  • Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
  • Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
The journalism fund Preferred partners Our services
Engagement

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!

Trending

A new model for thinking about how to grow regional economies: the Innovation Ecosystem Stack

Can the nation’s biggest cyber hub even handle Craiglist founder’s $100M security pledge?

20 tech community events in October you won’t want to miss

Johns Hopkins’ Pava Center picks promising startups in AI, healthcare and music 

Technically Media