San Francisco-based stealth mode startup Preempt Security, a developer of enterprise security software, has just raised $8m in Series A funding. In conjunction with the close, CEO and founder Ajit Sancheti answered our questions about the company, the product, the funding and future plans.
FinSMEs: Hi Ajit. Can you tell us a bit more about you?
Ajit: I am the co-founder and CEO of Preempt Security, an enterprise security software addressing the challenges of enterprise breaches and insider threats. Previously, I co-founded Mu Dynamics, which was acquired by Spirent Communications. Before Mu Dynamics, I was part of the Corporate Development Group at Juniper Networks and an integral member of the team that developed the industry’s first Intrusion Detection and Prevention system at OneSecure (acquired by NetScreen). Prior to OneSecure, I spent 7 years at Western Digital, holding various engineering and management positions. I received my M.S. in Engineering from the University of Massachusetts, Amherst, and my MBA from INSEAD, France.
FinSMEs: Let’s speak about Preempt Security. Which is the problem you are solving with it?
Ajit: Breaches and insider threats are constantly in the news. Every day we hear about a company being breached. There are many companies trying to solve this important problem. While we believe that detecting these compromises is important, it is very important to provide enterprises with the ability to respond to these threats in real time. Otherwise, we stretch the capabilities of very hard-to-find security experts inside enterprises. Preempt Security is developing solutions that can detect breaches and respond to these threats in real time, without extending enterprise security resources.
FinSMEs: How does it work?
Ajit: We are currently in stealth mode and so I cannot share too many details. But we will have more for you soon.
FinSMEs: Where are you in terms of growth right now?
Ajit: The company has slightly less than 20 employees. We have been selling since the middle of Q1 this year and have paying customers.
FinSMEs: You just raised a Series A funding. How are you using the funds?
Ajit: We are going to use the funds to expand our sales and marketing activities. In fact, we have just hired our VP of Marketing, Heather Howland, who has deep experience in successfully selling security solutions.
FinSMEs: Future plans?
Ajit: The market for effective security solutions, which can help with both detection and response, is still in its infancy, especially as it relates to internal enterprise networks. Customers have been hesitant to use traditional firewalls in active blocking modes as they may stop legitimate business activities. Our goal is to help enterprises become confident in using automatic enforcement, without interrupting the business process. Helping customers get there will ensure we are busy for a while.