Virtualization Technology News and Information
Bolster Closes $15 Million Financing Round to Help More Global Companies Detect and Remediate Digital Threats in Minutes, Not Months
Bolster, Inc. announced $15 million in funding led by Cervin, Liberty Global Ventures, and Cheyenne Ventures with participation from previous investors Thomvest Ventures and Crosslink Capital. The funding will fuel additional company growth to help more worldwide customers detect and remediate threats across web, social media, and app stores at a fraction of the time and operational cost of alternative solutions. Additionally, the company has added two new board members, Shirish Sathaye, General Partner at Cervin, and Manoj Apte, security industry veteran and former Chief Strategy Officer at Zscaler.

"Bolster represents a revolutionary step forward in disrupting this massive market," said Shirish Sathaye, General Partner at Cervin. "Their automated detection and remediation technology is best-in-class. We believe that Abhishek and team not only have a compelling vision but also the ability to execute it. We're thrilled to join Bolster on its journey."

So far in 2022, Bolster has already achieved 200 percent year-over-year growth in new customers and signed numerous forward-thinking organizations to their already impressive customer base.

In the second quarter of 2022, the Anti-Phishing Working Group (APWG) observed 1,097,811 total phishing attacks - the worst quarter for phishing that APWG has ever seen. "As the digital ecosystem expands at an accelerated rate, the modern company's public attack surface is more vulnerable than ever. The same touch points used to connect with customers are being exploited by attackers to phish employees, steal private data, and destroy customer trust," said Abhishek Dubey, co-founder and CEO of Bolster, Inc. "The big problem that keeps companies from being able to protect their brand, customers, and employees is scaling detection and remediation across the massive volume of data on the web. It's critical that companies adopt automation to detect and take down fraudulent sites and content so they can scale to fight this problem."

"Digital Risk Protection is hitting critical mass as organizations shift revenue and customer engagement to digital media and web3.0," said Manoj Apte. "Financially motivated attackers are targeting consumers and employees at an alarming rate under the guise of known brands. This threat to consumer confidence requires scaling dedicated security teams in the SOC. Bolster's AI-based detection and fully automated takedown service dramatically speeds up remediation, minimizes repetitive tasks, and increases customer confidence."

Published Tuesday, October 18, 2022 3:24 PM by David Marshall
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