Reach Security Raises $20M for AI That Transforms How Companies Use Their Cybersecurity Products

Ballistic Ventures leads investment in startup enabling companies to deliver the best possible cybersecurity using the products they already own

SUNNYVALE, Calif., March 7, 2024 /PRNewswire/ -- Reach Security, the company pioneering advanced AI to reinvent security operations, today announced $20 million in funding. The Series A is led by Ballistic Ventures, with participation from Artisanal Ventures and industry luminaries, including Mark McLaughlin, former CEO and President of Palo Alto Networks, and Denise Persson, CMO of Snowflake. Existing backers Webb Investment Network, Ridge Ventures, and TechOperators also joined the round.

Sentiment has shifted in the cybersecurity market. Leaders are tired of buying tools but not knowing whether those tools are helping, or how to use them more effectively. Meanwhile defenders are stretched too thin to master the growing number of capabilities; the last thing in the world they want is more. With configurations and policies out of date, attackers easily exploit the gaps. Platforms were supposed to fix this, but numbers don't lie: Every year brings more breaches than the year before. This change in perspective has driven significant momentum for Reach, which is reshaping the way teams consume security and capitalize on their existing investments.

Co-founders Garrett Hamilton, CEO, and Colt Blackmore, CTO, spent more than a decade building detection and prevention products at some of the most iconic cybersecurity companies – Palo Alto Networks, Proofpoint, and Cylance. "Our time in the trenches gave us the unique opportunity to stand shoulder-to-shoulder with hundreds of security teams when things went wrong, and it was always the same story: They could've stopped the attack with the tools they already had," Hamilton said. "Every other company in our industry will say that you need another security mousetrap to solve this problem. They're wrong. We've looked at tens of thousands of enterprises and seen firsthand that the average security team uses less than 20% of what they have and, as a direct result, they struggle to secure their organization."

"Reach Security represents a pivotal shift in how cybersecurity leaders will buy, deploy and manage their security solutions," said Barmak Meftah, Co-founder and General Partner of Ballistic Ventures, who joins the Board of Directors as part of the firm's investment. "Before companies invest in more point products, they need to know how to use their current solutions effectively to minimize their risk exposure and maximize efficacy without disrupting the business. From day one, we've been impressed with the team and technology behind Reach, and their approach aligns perfectly with our vision to invest in companies that are truly redefining the cybersecurity landscape."

The Technology Behind Reach Security

Reach Security delivers the first AI purpose-built to reprogram an organization's security infrastructure based on who they are and how they're being attacked. Unlike solutions limited to cloud security, Reach acts across the entire security estate, interrogating each tool, gathering data on who is being targeted and how those attacks work. It takes seconds to set up and minutes for insight and action, with no new sensors, infrastructure, or attack simulations required. The result: Security leaders get a 360-degree view of how their products are protecting them, a prioritized list of how to improve, and automation that empowers their defenders to act.

Companies trust Reach to make these mission-critical decisions because Reach's AI does not hallucinate and does not make mistakes – it's a different kind of AI, one designed with accountability and reliability in mind.

Industry Support for Reach Security

• Mark McLaughlin, the former CEO and President of Palo Alto Networks, and angel investor in Reach: "The history, and future, of security is centered on the continued struggle between platforms and best-of-breed. Companies want the network effect, optimization, and operational efficiency of security platforms, but refuse to accept anything less than best-of-breed in capabilities. Garrett and the team at Reach understand this and offer customers a path toward platforms while still getting best-of-breed, by meeting them where they are and focusing on making them operationally effective on the journey."
  
  
• Sebastian Goodwin, Global CISO of Autodesk, a Reach customer: "We've seen firsthand how Reach's platform increases our visibility and optimizes our security stack, providing our teams with capabilities to measurably maximize our effectiveness. Reach has offered a valuable capability that helps my team realize Autodesk's mission to be the most trusted partner in the industries we serve."
  
  
• Geoff Belknap, CISO of LinkedIn, a strong Reach supporter: "Reach has found a way to take the age-old problem of 'too many tools and not enough people' and solve it with a purpose-built product that focuses on helping organizations be as effective as possible with what they already have. They're showing that pragmatic approaches to solving security problems can have an outsized impact on our industry."
  
  
• Jon Jensen, Vice President of Cyber Security Sales at Presidio, a Reach channel partner: "Reach's market opportunity is massive. Its product resonates with teams and our customers. The idea that security is most effective when tailored to an organization is something we've preached in security for years, and Reach is making it scalable for the first time with AI."

Reach Security addresses a universal need. For CISOs and security leaders who want to address that need now, https://reach.security/connect schedule a demo or learn more at https://reach.security/home Reach Security.

About Reach Security
Reach Security is transforming the way companies use their security tools. With a focus on optimizing what teams already own rather than adding complexity with new tools, Reach is committed to simplifying cybersecurity, reducing operational costs, and enhancing protection against evolving threats. Founded by cybersecurity experts with venture backing from leading investors and industry luminaries, Reach Security is setting a new standard for cybersecurity efficiency and effectiveness. For more information, visit http://reach.security/ Reach Security.

About Ballistic Ventures
Ballistic Ventures is a venture capital firm solely dedicated to early-stage cybersecurity and cyber-related companies. The partners have spent their entire careers defending against every cyber threat conceivable. Members of the firm have founded, operated, and funded over 90 successful cybersecurity firms – including Abnormal Security, AlienVault, ArcSight, Fortify, Mandiant, and Shape Security – led over 10,000 security professionals globally, and have 40+ years of experience in venture capital. Our experience provides entrepreneurs impactful support from people focused on the same mission. Our networks and relationships open doors for our founders. Learn more at ballisticventures.com.

SOURCE Reach Security