Seattle-Based CI Security Attracts Series B Funding to Expand upon Its Mission of Defending Systems in Healthcare, Government, and Other Critical Sectors.
CI Security announced it has raised an additional $9.6 million dollars to defend critical services in healthcare and the public sector from cyber threats.
Seattle-based CI Security raises $9.6M in its final round of Series B Funding to expand upon its mission to defend critical systems that keep people alive and improve quality of life.
The added investment allows CI Security to continue expanding its Critical Insight Managed Detection and Response (MDR) service. Customers with Critical Insight MDR can detect and respond to intrusions and threats quickly. Those customers know that CI Security’s analysts are using purpose-built technology to watch for security events 24/7/365.
The Series B fundraising was led by Alan Frazier’s East Seattle Partners, with $9.6 million raised. Including its Series A in 2018, CI Security has now raised over $16 million.
Defending Critical Sectors
CI Security is uniquely positioned for growth with its focus on helping customers minimize the impact from cybersecurity events.
“We’re honored to continue our work defending hospitals, clinics, cities, ports, and school districts,” said Mike Hamilton, President and Chief Information Security Officer (CISO) of CI Security. “Our mission is to make sure the lights stay on, healthcare is available, the water supply is safe, and the continuity of commerce continues unabated during this time of unprecedented threat activity.”
“Organizations spend $96 billion annually on security technologies but the headlines persist. There is no silver bullet technology solution that can eradicate the risk of a cyber attack,” said Garrett Silver, CEO.
“Security is not a technology problem, it is a people problem. There is a material shortage of security talent, and organizations cannot recruit and retain enough people to manage the technology they already have. Our managed detection and response solution uses technology to enable Critical Insight analysts to extend our customers’ teams. We take the operational burden of detection and response so our customers’ few, precious resources can get back to their day job: moving forward on their organization’s security maturity journey.”
More People Who Detect and Respond
CI Security is quickly growing its expert staff inside the Critical Insight Security Operations Centers. Each customer has a CI Success Engineer, a dedicated security advocate with a deep understanding of the customer’s specific needs and critical assets. That CI Success Engineer serves as the central communication point for customers while CI Security Analysts leverage best-in-class technology to investigate threats around-the-clock. Those analysts work in two security operations centers in geographically diverse areas, allowing for continuity of operations in case of natural disaster.
CI Security sources analysts from the military, technical colleges, and universities, especially those involved in the PISCES program. CI Security’s Mike Hamilton is a founder of PISCES, a program which partners with multiple universities and allows CI Security to provide security monitoring for down-market local governments at no charge. “The students get to learn infrastructure protection and job skills. Then we hire the best and brightest,” said Hamilton. The combination of the PISCES program and CI Security continuous training helps the company avoid the turnover and recruiting issues faced by so many organizations that seek security talent.
“With strong retention of our security analysts, we take care of the people problem in information security. Customers can rest easy knowing that our people have their back 24/7/365, and our ability to maintain analyst capacity stays ahead of customer demand,” said Hamilton.
More Detection and Response Capabilities
CI Security is adding significantly to its detection and response capabilities. Critical Insight MDR monitors digital assets where customers have them: on premises, AWS or Azure cloud, and Microsoft O365. Critical Insight MDR is designed to spot attacks on IoT devices including connected medical devices, as well as defend operational technologies (OT) in water, energy, manufacturing, and transportation sectors in a regulatory compliant fashion.
Keeping the MDR Promise
The added investment shows MDR is fulfilling promises that Managed Security Service Providers (MSSPs) couldn’t keep: to perform deep investigations into threats, eliminate alert fatigue, and partner with customers when responding to incidents.
“Authentic MDR starts with the acknowledgement that great detection and response comes from awesome analysts amplified by great technology,” said Silver. “Our purpose-built technology with powerful data ingest means CI Security Analysts conduct deep investigations to remove false positives and catch events that SIEMs and MSSPs miss. Organizations have critical systems that keep people alive and improve quality of life. We believe those people deserve to have authentic MDR watching out for them.”