SAN MATEO, Calif., Dec. 12, 2013 /PRNewswire/ -- Norse, a leading provider of live threat intelligence solutions, today announced it has received $10 million in Series A funding from Oak Investment Partners, a multi-stage venture capital firm. The cybersecurity startup will use the investment to expand and strengthen engineering, product development, and sales and marketing. As part of its expansion, it will also recruit top engineering and executive talent, and bring new and innovative solutions to market to meet high demand for its live threat intelligence solutions.
"The cybersecurity market is in a hyper-growth stage, with the world's leading technology analyst group predicting that it will exceed $85 billion by 2016. Much of the demand is driven by the need for threat intelligence that can detect cyberattacks launched against enterprises and governments," said Sam Glines, CEO and co-founder, Norse. "With solid backing from top-tier investors such as Oak Investment Partners and the only security solution that identifies threats before they become attacks, we are well-positioned to provide disruptive solutions that will significantly reduce risks for organizations that operate in online environments, especially hostile online environments."
CTO and Co-Founder Tommy Stiansen leads Norse's engineering efforts. Under his guidance, the company has developed a global network of resilient data centers, next-generation threat sensors and adaptive honeypots to deliver context-rich, live threat intelligence that aids customers in making informed decisions to strengthen defenses and reduce the risk of data breaches. The Norse product line includes IPViking™ and the just-released Norse Darklist™.
"Norse's experienced leadership team, vision for the future and advanced technology are well-positioned to meet growing demand to protect companies and governments from cyber threats," said Bandel Carano, managing partner at Oak Investment Partners. "We look forward to partnering with the management team to help Norse achieve its tremendous potential."
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About Oak Investment Partners
Oak Investment Partners is a multi-stage venture capital firm and a lead investor in the next generation of enduring growth companies. Since 1978, the firm has invested $9 billion in nearly 500 companies around the world, earning the trust of entrepreneurs with a senior team that delivers steady guidance, deep domain expertise and a consistent investment philosophy. The firm's five major growth sectors of focus are information technology, Internet and consumer, financial services technology, healthcare services and clean energy. For more information, visit www.oakvc.com.
Norse is the leading innovator in the live threat intelligence security market. With the goal of transforming the traditionally reactive IT security industry, Norse offers proactive, intelligence-based security solutions that enable organizations to identify and defend against the advanced cyberthreats of today and tomorrow. Norse's synchronous, global platform is a patent-pending infrastructure-based technology that continuously collects and analyzes real-time, high-risk Internet traffic to identify the sources of cyber attacks and fraud. Norse is the only provider of live, actionable, cyberthreat intelligence that enables organizations to prevent financial fraud and proactively defend against today's most advanced cyber threats including zero day and advanced persistent threats. Norse has offices in Silicon Valley, St. Louis, and Atlanta. Visit us online at norse-corp.com.