DefenseStorm, an Alpharetta, Ga.-based cloud-based cybersecurity, cybercompliance, and cyberfraud management provider to regional and community banks and credit unions, raised $5m in funding.
Curql Collective, through its Strategic Investment Fund, Curql Fund I, made the investment, bringing total funding to $52m.
The company plans to use the funds to further build out its CyberFraud offering, while continuing to enhance its banking-focused, automated compliance and cybersecurity offerings.
Led by Steve Soukup, chief executive officer, DefenseStorm provides cybersecurity, cybercompliance and cyberfraud solutions specifically built for banking to achieve and maintain Cyber Safety & Soundness. The DefenseStorm GRID is a co-managed, cloud-based and compliance-automated solution operating as a technology system and as a service supported by experts in FI security and compliance. It watches everything on a bank or credit union’s network and matches it to defined policies for real time, complete and proactive cyber exposure readiness, keeping security and fraud teams smart and executives accountable. DefenseStorm links GRID activities directly into control frameworks and self-assessments with automated evidence collection to demonstrate adherence to industry and regulatory standards. Compliance evidence can also be linked to unique policies and internal controls.