Funding will be used to hire additional development engineers and sales staff as well as expand the company's marketing efforts.
INDIANAPOLIS and PARIS, April 9, 2020 /PRNewswire/ -- Stamus Networks, a fast-growing cybersecurity software company, today announced it has secured critical seed financing in an oversubscribed $1.5 million round. Stamus Networks offers a unique cyber security solution that more clearly illuminates threats by correlating network traffic analysis and threat detection in real time. The system arms security teams with unprecedented visibility and meaningful insights into their organization's security posture and helps them rapidly detect and respond to incidents.
VisionTech Angels and Elevate Ventures, both Indianapolis-based investment groups, co-led the investment round. In addition, several independent angel investors participated. Both VisionTech Angels and Elevate Ventures will appoint representatives to the company's board of directors.
"Stamus Networks addresses an important need in the marketplace for enterprise-scale cybersecurity and has created a unique enriched threat hunting solution," said Vercie Lark, VIssionTech Angels investor and retired CIO. "Customers have told us the company's Scirius platform allows them to replace several existing products and is very effective at proactively uncovering real threats. One of the most important factors we consider with any investment is the quality of the management team. Stamus Networks' team brings a solid track record in the cybersecurity space with both commercial and technical successes."
"The management team at Stamus Networks has combined 69 years of experience in the cybersecurity space and has a history of achieving results," said Chris LaMothe, CEO of Elevate Ventures. "With Stamus Networks' existing customer base and the growing market demand, we have confidence they will be successful."
Stamus Networks has been steadily building a loyal customer following since it introduced its first product in 2017. The company's broad list of customers includes global financial institutions, a multi-national software company, a U.S. public school system, a European managed security service provider, and an international governmental body, among others.
"We at Stamus Networks are excited to be able to reach and help even more organizations secure their networks and are thrilled to have received this strong vote of confidence from the investment community," said Ken Gramley, CEO of Stamus Networks. "And we are thankful to all who worked so hard to close this round during these unprecedented times."
About Stamus Networks
Stamus Networks believes cyber security professionals should spend less time pouring though noisy alerts and more time investigating true indicators of compromise (IOC). Founded by the creators of the widely-deployed open source SELKS platform, Stamus Networks offers Scirius Security Platform solutions that marry real-time network traffic data with enhanced Suricata intrusion detection (IDS) and an advanced analytics engine to create an entirely new class of enriched threat hunting solutions. With Scirius, you get unprecedented visibility and meaningful insights into your organization's security posture, giving you the tools to rapidly detect and respond to incidents. For more information visit: stamus-networks.com
About VisionTech Partners I VisionTech Angels
Founded in 2008, VisionTech Partners I VisionTech Angels is a privately held company that links investors to high-potential, early-growth companies. Based in Indianapolis, capital of one of the nation's most vibrant innovation regions, VisionTech Angels has chapters in Bloomington, Fort Wayne, Indianapolis, Lafayette, Dayton, Ohio; and an Affinity chapter for physicians, AngelBom. Our investment portfolio includes 34 companies, and more than 130 members across Indiana and Ohio. Membership is open to accredited investors. Those interested in joining are encouraged to contact VisionTech Angels. The next pitch event is April 30, 2020. Learn more: visiontech-partners.com
About Elevate Ventures
Elevate Ventures is a private venture development organization that nurtures and develops emerging and existing high-growth businesses into high-performing, Indiana-based companies. Elevate Ventures accomplishes this by providing access to capital, rigorous business analysis and robust advisory services that connect companies with the right mix of resources businesses need to succeed long term. To learn more about Elevate Ventures, visit elevateventures.com.
SOURCE Stamus Networks