Damballa Raises $12m in Equity Funding

Damballa Inc., an Atlanta, GA-based provider of solutions for fighting advanced malware and targeted cyber attacks, has raised $12m in equity funding.
Investors include new backer Paladin Capital Group and existing shareholders Sigma Partners, Palomar Ventures, InterWest Partners, GRA Venture Fund, Imlay Investments, and Blumberg Capital.
The company intends to use the funds to expand its research and engineering efforts to further develop its technology.
In conjunction with the funding, Philip Eliot, Principal, Paladin Capital Group, will join Damballa’s board.
Led by CEO Val Rahmani, Damballa provides cyber threat solutions for enterprise, ISP and telco networks. Damballa solutions detect and terminate criminal activity associated with targeted attacks, as well as botnets and advanced malware that conduct fraud, engage in industrial espionage, and steal corporate data and customer credentials.
The company also plans to protect cloud and public sector networks from cyber threats and abuse.
Customers currently include Fortune 1000 companies, Internet and telecommunications service providers, government agencies and leading universities.

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